(Vocus) September 23, 2010
Grupo Financiero BBVA Bancomer (BBVA Bancomer), a leading Mexican financial firm and part of the Banco Bilbao Vizcaya Argentaria (BBVA) group, has gone live with a suite of SunGard solutions including SunGard’s GL Win trading workstations, GL Stream Order Management System (OMS) and market access gateways to access both Mexican equities and derivatives marketplaces. BBVA Bancomer is the first SunGard customer in Mexico to trade on the Mexican Stock Exchange (Bolsa Mexicana de Valores, BMV) and Mexican Derivatives Exchange (MexDer) markets from the same workstation. BBVA can now offer this capability to all its clients through its connection to the SunGard Global Network (SGN).
The BBVA Group, one of the largest banking organizations in the world, already connects to markets in Europe and Asia using SGN, a low-latency information and order routing network that links more than2,000 buy-side firms and 500 brokers on 110 markets. SGN can support BBVA to extend its global strategy by providing the groupâs clients with access to new investment opportunities in Mexico.
In addition, SunGard’s gateways give BBVA Bancomer access to the new trading engines used by the two exchanges – BMV’s new RINO⢠and MexDerâs new MEXFIX⢠engines respectively. Finally, SunGardâs GL Stream OMS and multi-asset GL Win workstations help the bank handle multiple client order flows and create new, complex trading strategies.
José Acebes, global equities executive director for wholesale banking and asset management at BBVA, said, “SunGard’s solutions helped us to manage order flow from other BBVA offices more efficiently, while offering advanced trading services on the Mexican cash and derivatives exchanges. Our membership in the SGN community is supporting our local connectivity across the world, and is aiding our growing business in Mexico.â
Yassine Brahim, president of SunGard’s global trading business, said, “Mexican markets are among the most sophisticated in Latin America. Thanks to recent regulatory and technological changes, these markets are due to attract new investors and high-frequency trading firms. SunGardâs strategy to open local offices and launch new SGN hubs in the region, while developing access to new markets such as Chile, Colombia and Peru, helps support customers such as BBVA in their global strategies.”
About BBVA Bancomer
Grupo Financiero BBVA Bancomer (BBVA Bancomer, or the Group) is a financial institution with a strong presence in Mexico in the businesses of multiple-service banking, pension funds, mutual funds, insurance and cash transfers. It conducts its core activities through BBVA Bancomer (Bancomer or the Bank), Mexicoâs largest bank in terms of assets, deposits, loan portfolio and number of branches. Its business model is based on a segmented distribution by type of client, with a philosophy of risk control and a goal of long-term growth and profitability.
The Group is a parent company affiliate of Banco Bilbao Vizcaya Argentaria (BBVA or BBVA Group), one of Europe’s leading financial groups.
About BBVA
BBVA is a global group that offers individual and corporate customers the most complete range of financial and non-financial products and services. It enjoys a solid leadership position in the Spanish market, where it first began its activities over 150 years ago. It also has a leading franchise in South America, is one of the 15 largest U.S. commercial banks, and one of the few large international groups operating in China. BBVA employs 112,000 people in over 30 countries around the world, and has more than 47 million customers and 890,000 shareholders.
About SunGardâs GL Stream
The GL Stream suite provides a comprehensive response to the challenges of global electronic trading. GL Stream ASP for Market Access is a fully managed and cost-effective solution for exchange connectivity, based on hosted and mutualized market gateways. GL Stream for Liquidity Management is a suite of capabilities for trading of instruments across multiple competing venues: exchanges, ECNs, MTFs, dark pools and in-house matching engines.
About the SunGard Global Network
A trade automation and connectivity solution, the SunGard Global Network links institutions throughout the financial services value chain, offering services for equities, fixed income, listed derivatives, mutual funds, money market funds and other cash equivalents. The SunGard Global Network helps automate the entire trade lifecycle from order execution through to post-trade processing. It provides access to 110 markets worldwide and connects the buy-side, third party networks, broker/dealers and investment companies, including more than 2,000 asset managers and 500 broker connections. Its international connectivity hubs also support low-latency market data delivery from global markets.
About SunGard
SunGard is one of the world’s leading software and technology services companies. It has more than 20,000 employees and serves 25,000 customers in 70 countries, providing software and processing solutions for financial services, higher education and the public sector. SunGard also delivers disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit www.sungard.com.
Trademark Information: SunGard, the SunGard logo, GL Win, GL Stream and the SunGard Global Network are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
###
