SunGard Global Network, MarketMap to Provide Market Data, Connectivity via AbacusFlex
SunGard Global Network (SGN) Securities and MarketMap will provide connectivity and market data to hedge funds and investment managers through Abacus Group's hosted IT solutions platform, AbacusFlex.
MarketMap will provide its market data feed, which offers asset coverage through its integration with AbacusFlex, which is integrated with SGN, SunGard’s order-routing platform. As a result, officials say, firms can bundle financial market data and global connectivity through a single-vendor, cloud-based solution.
AbacusFlex provides access to more than 120 markets and connects more than 2,000 asset managers and 500 brokers across 30 international hubs. SGN will help to stream the trade lifecycle from trade execution to post-trade reconciliation—including electronic order routing, broker allocations, confirm/affirm, and custodian bank notifications. MarketMap provides coverage of options, derivatives and futures pricing data.
"Hedge funds and investment managers want flexible solutions to grow their business without accruing additional data fees or coverage limitations," says Chris Grandi, founder and president of Abacus Group. "SunGard Global Network and MarketMap provide a cost-effective, comprehensive and integrated solution that helps meet firms' data requirements with added FIX connectivity in one offering."
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