XTB, a leading Central and Eastern Europe brokerage firm based in Poland, has selected SunGard’s Valdi suite of integrated market data, risk management and trading solutions to connect to the Warsaw Stock Exchange (WSE). XTB also plans to connect to the SunGard Global Network (SGN), an international order routing and market data network that links more than 2,500 asset managers and brokers.
XTB opted for SunGard’s hosted Valdi Market Access service for its WSE market connectivity to help it reduce its total cost of ownership and achieve economies of scale. The choice of a hosted solution will help XTB focus on growing its business while avoiding the costly diversions of system building, integration and maintenance.
SunGard will also provide XTB with integration services for the firm’s back office, in order to facilitate the changes that will be necessary when the WSE migrates to the new NYSE Euronext central trading platform.
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Christian Oddershede-Jensen, head of Equities and CFDS at XTB, said, “We selected SunGard because of its proven experience and reliability in providing trade connectivity and hosting services. By outsourcing the activities involved in procuring and managing the hardware, software and telecommunication links required for market access, SunGard’s hosted solution will help us focus on our business and our clients at a time of vast change in Poland’s capital markets structure.”
Raj Mahajan, president of SunGard’s global trading business, said, “SunGard helps international brokers access new markets in Central and Eastern Europe (CEE) through its Valdi and SGN solutions. Valdi and SGN can also help CEE trading firms strengthen their local and international electronic trading business. Like other Polish brokers, XTB has selected SunGard’s Valdi Market Access hosted services to support its local clients as well as help grow its business internationally, while controlling its technology costs.”