By Andrei Skvarsky.
Renaissance Capital has joined the trading network of global online services provider SunGard in a move enabling the Russian investment bank to offer brokerage services to more than 2,000 asset management companies and 530 brokerages seeking access to Russian markets.
SunGard clients will now be able to route trade order flows directly to Russia’s Micex-RTS stock exchange and the London Stock Exchange’s International Order Book, where Russian stocks comprise 92% of the trade volume, RenCap said in a statement.
Philippe Carre, global head of connectivity at SunGard Global Trading, said connectivity to stock exchanges in emerging markets “is generally complex because of the lack of infrastructure and the need for local, specialist knowledge”.
Adding RenCap to the network of SunGard, a US-headquartered company with more than 17,000 employees that operates in over 70 countries, “will help our customers more easily connect to these new sources of liquidity”, Carre said as quoted in RenCap’s statement.
Sam Atkins, RenCap’s head of electronic trade product development, said the Moscow-based firm’s deal with SunGard “will help us expand our geographic reach and increase our visibility, globally”.
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