SunGard’s Valdi a complete front to back trading solution for financial instruments has been selected by an independent Polish equities brokerage house, Dom Inwestycyjny Investors (DI Investor). The new product gives the broker direct market access and connectivity to the Warsaw Stock Exchange (WSE).
Dom Inwestycyjny is the latest Polish broker to take advantage of SunGard’s product for the growing domestic market. SunGard’s Valdi is an ideal solution for Dom Inwestycyjny to provide brokerage activities on the WSE. Valdi allows users to carry out market making and has advanced trading functionality. Valdi also offers middle office capabilities which tie in well to existing back office systems.
Speaking about the new system, Tomasz Bardzilowski, managing director, vice president of the Board at DI Investors said in a statement: “SunGard’s trading solutions offer a cost-effective and efficient way for our traders and clients to access the WSE. SunGard, with its strong expertise and knowledge of the Polish capital markets combined with its connectivity capabilities, offered the ideal solutions to help us achieve agile growth.”
SunGard’s Valdi product has been used by several brokers including leading Polish multi asset firm, XTB, who signed up in 2011.
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Philippe Carré, global head of connectivity, SunGard’s capital markets business commented about Valdi’s success in the Polish market in a comment to Forex Magnates: “Valdi is a front-to back modular system, allowing for institutions to benefit from advanced trading functionalities on the Warsaw Stock Exchange while ensuring full STP to their back-office and managing trade enrichment. SunGard has been present for more than 10 years on the Polish capital market, providing trading & market data solutions, counting the WSE itself as a client, which comforts Polish institutions looking for a global player with local capabilities.”
Poland has been reaping the benefits of being a resilient and productive economy during the global recession and has been one of the better performing nations in Europe, during 2008 and 2012 it had an average GDP growth rate of 3.5%. In addition, the nation has been favoured by investors looking to set up industry and build infrastructure, Poland attracted $4.1 billion in foreign direct investment in 2012, according to a report by the United Nations Conference on Trade and Development (UNCTAD).
“Poland has emerged as the regional centre for capital markets for Central & Eastern Europe; the very strong performance of the WSE over the last couple of years has attracted a lot of interest from global investors:
- De-multiplication of trading volumes
- Huge increase in memberships, including remote memberships
- Large number of listings, including foreign listings (Ukraine, Lithuania, Romania, Slovenia, Austria and others).
The launch of new markets (energy, agricultural commodities) as well as the sustained push of the WSE in derivatives trading should help the Exchange acquire a “second breath”. The possibility for the WSE to conclude regional alliances with other stock exchanges looking at emulating (or benefiting from) the WSE’s success should also help Warsaw in their ambitions to become a regional financial centre. We will continue to invest in our solutions to equip Polish firms (compliance, back-office etc.), as well as expanding our footprint in the CEE region”, concluded Mr Carré.
According to data from the Warsaw Stock Exchange average daily turnover in equities was $380 million in June, a 60% increase YoY.