Gilbert Dupont Connects to Turquoise via SunGard Valdi
Gilbert Dupont has added Turquoise to its smart order routing platform, hosted and operated by SunGard, to gain best execution on the London venue, according to SunGard.
"As new liquidity pools were created across Europe as a result of Mifid, brokers like Gilbert Dupont started focusing on improving their execution quality across their order flow and on their ability to add new venues quickly and easily," says Philippe Carré, global head of connectivity at SunGard's capital markets business.
New Pool of Liquidity
Specializing in small and mid-size companies (SME), Gilbert Dupont saw an increase in Turquoise market share in the CAC40 ─ the French stock market index that reflects the performance of the 40 largest equities listed in France ─ inciting the French broker to connect to the trading venue.
"About two years ago, we were not interested in Turquoise, but when it reached the 10 percent market share on the CAC40, we could not ignore it anymore," says Francois de Lard, secretary general, Gilbert Dupont. "If we wanted to further improve the quality of the service we deliver to our clients, we needed to give them access to this new liquidity pool.
"We're delighted to welcome Gilbert Dupont to Turquoise," says Robert Barnes, CEO of Turquoise. "Their membership underlines the opportunity Turquoise provides our member firms in France where we have seen 50 percent growth in CAC40 market share in the last six months and, pleasingly, even higher gains in the trading of smaller names."
The Best of Outsourcing
Gilbert Dupont has been using SunGard's solutions for its front and middle office, as well as for enabling market connectivity, for years.
"Our main activity is to be a broker, not an IT provider. What we tried to do since the very beginning was to outsource the solutions we needed in order to avoid the cost of building and maintaining our own, and of having a dedicated team on-site all the time," adds De Lard. "Our partnership with SunGard allows us to easily tap into new markets when new liquidity pools are being created without having to worry about the cost and implementation time to do so."
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