SunGard, Nyfix, Lava Out at GKM
CONNECTIVITY
NEW YORK--Trading firm Gerard Klauer Mattison (GKM) will replace three trading-systems providers--SunGard Trading Systems/Brass, Nyfix FIXTrader, and Lava Trading--with Royalblue’s FidessaNet in mid-June, officials said last week.
Affecting 45 positions across both the New York Stock Exchange (NYSE)-listed and over-the-counter (OTC) desk, the change is expected to save the firm 60 percent in transaction and service fees annually, offer cross-asset trading, as well as consolidate back- and middle
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