Fox River adds US equity algorithm to solutions suite
04 June 2012 New York
Image: Shutterstock
SunGard鈥檚 Fox River has enhanced its algorithm suite with a US equity 鈥榙ollar certain鈥 algorithm, which is used when traders want to execute a trade in dollars rather than shares.
Trader who want to trade dollar amounts must manually convert the figures into specific numbers of shares and then enter those numbers into their trading systems. Fox River鈥檚 algorithm automates this manual process.
The new algorithm help traders to avoid calculation errors and reduce operational risk, according to SunGard.
Bob Santella, the chief operating officer for SunGard鈥檚 Fox River and Valdi trading solutions in the US, said: 鈥淔ox River鈥檚 dollar certain algorithm was driven by customer requests and designed to help them become more efficient, which is one of their key challenges.鈥
鈥淭his new algorithm helps turn a purely manual process into an automated one, helping to save a trader鈥檚 valuable time, increase efficiency and reduce operational risk.鈥
Trader who want to trade dollar amounts must manually convert the figures into specific numbers of shares and then enter those numbers into their trading systems. Fox River鈥檚 algorithm automates this manual process.
The new algorithm help traders to avoid calculation errors and reduce operational risk, according to SunGard.
Bob Santella, the chief operating officer for SunGard鈥檚 Fox River and Valdi trading solutions in the US, said: 鈥淔ox River鈥檚 dollar certain algorithm was driven by customer requests and designed to help them become more efficient, which is one of their key challenges.鈥
鈥淭his new algorithm helps turn a purely manual process into an automated one, helping to save a trader鈥檚 valuable time, increase efficiency and reduce operational risk.鈥
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