Brut To Self-Clear Through SunGard
ATS/ECN UPDATE
Lost in the shuffle of the merger between ECNs Brut and Strike was the plan for Brut to self-clear through SunGard Brokerage Systems, announced on November 2, a week after the merger became official, with the new ECN tentatively renamed Brokers Utility.
"This agreement was between Phase 3 and Brut and was separate from the merger," says Christie Curreri, spokesperson for SunGard Brokerage Systems. "What Strike wants to do (in their back office) is up to them. We're going to accommodate them. But
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