NEW YORK, Dec. 1, 2010 /PRNewswire/ -- SunGard's Fox River Execution has been recognized as the top provider of U.S. equity trading algorithms in Institutional Investor's 2010 US Equity Trading Ranking, achieving the #1 rank for both arrival price and VWAP executions of U.S. equities. Institutional Investor's 14th annual survey of trading costs was conducted by Elkins/McSherry, a subsidiary of State Street Corporation.
SunGard's Fox River Execution is a leading broker dealer that provides unique algorithmic trading technology with embedded "trader logic", providing algorithms that mimic the experience, logic and knowledge of a trader. Fox River Execution serves global trading partners in the U.S. equity and exchange traded fund (ETF) markets.
For the first time this year Elkins/McSherry also ranked brokers based on trade sizes. Fox River ranked #1 for execution of small orders (< 10,000 shares), #2 for medium orders (10,000 – 50,000 shares) behind only a crossing network provider, and #1 for large orders (> 50,000 shares).
Ron Santella, president of SunGard's Fox River Execution, said, "Achieving first place against arrival price and VWAP benchmarks illustrates our ability to excel in executing our customers' most important equity trades in a challenging market environment. We devote substantial resources to enhancing our core execution engine so that we can continue to deliver on our goal of best in class performance. Placing first in Institutional Investor's 2010 US Equity Trading Ranking is a notable achievement for several reasons: it demonstrates success across a host of important measures; it proves the success of our technique; and combined with prior results it shows consistency of performance over multiple years."
SunGard acquired Fox River Execution in July, expanding its ability to provide customizable algorithmic trading solutions to help customers better access available liquidity in the fragmented equity market, improve execution quality and meet best execution requirements.
About SunGard's Fox River Execution
Fox River Execution's suite of execution products was developed to address the needs of the institutional trader. Institutional Investor' US Trading Survey (conducted by research firm Elkins/McSherry) has rated Fox River Execution a top performer since 2007. Fox River Execution is headquartered in suburban Chicago with offices in New York. Fox River Execution Technology, LLC is a FINRA registered broker/dealer and a member of the SIPC. For more information, visit www.foxriver.com.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
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