SunGard Expands Internet Offerings with Exchange Market Systems Acquisition

SunGard Data Systems has purchased Exchange Market Systems (EMS) which will be folded into its SunGard Brokerage Systems unit.

BrokerWare is a middleware solution offering connectivity to several delivery channels. It will complement SunGard Brokerage System's Internet trading and account services, including the Phase3 system for processing securities transactions and the Plaid Brothers contact management tools.

Mike Nemerowski, senior vice president of SunGard Brokerage Systems, anticipates fourth quarter availability of a the integrated suite of the three products. "It will be sold depending on how the customer needs it," says Nemerowski. "We're not trying to make it a package that requires the customer to take all the pieces, but rather make it flexible so the customer can pick and choose based on their business needs."

The BrokerWare product supports delivery channels such as the Internet, telephony, PCS phones, pagers and other mobile technology. "The real focus was the way that EMS pulled together and was able to consolidate the multiple channels of getting information to the customer," explains Nemerowski. "Typically we had seen fragmentation in this space, people had products that could offer Internet but not telephony or other capabilities. This is really a step above the typical offering in this space."

BrokerWare's ability to access multiple information sources was also an important factor in SunGard's decision to buy. "Clients can connect one or more internal information systems to the EMS information network and distribute the information from a single point," notes Nemerowski. For example, banks that are also a broker/dealer can put together a consolidated view of information on the client's account with market data and quotes through the EMS product.

Nemerowski says the BrokerWare product also speeds up time to market solutions that firms are offering to customers. "People don't want to wait, so we really like the fact that once it's connected to an information stream it can be distributed simultaneously through all of those channels." Order flow can also be routed through BrokerWare into the order management systems and execution information can then be routed back to the user. EMS's BrokerWare is mainly targeted at sell side institutions such as discount brokerage firms, retail brokerage firms and banks.