Fox River adds US equity algorithm to solutions suite
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Fox River adds US equity algorithm to solutions suite 04 June 2012New York Reporter: Mark Dugdale
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SunGard’s Fox River has enhanced its algorithm suite with a US equity ‘dollar certain’ 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’s 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’s Fox River and Valdi trading solutions in the US, said: “Fox River’s dollar certain algorithm was driven by customer requests and designed to help them become more efficient, which is one of their key challenges.”
“This new algorithm helps turn a purely manual process into an automated one, helping to save a trader’s valuable time, increase efficiency and reduce operational risk.”
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