Alternative trading system Brut has implemented a FIX link to SunGard's Decalog trade order management system.
Through the SunGard Transaction Network (STN), Decalog users can now trade Nasdaq and US exchange-listed equities via Brut, and participate in the company's sponsorship programme. The programme allows buy-side clients to trade electronically via Brut, repatriate a portion of the commission dollars to a sponsoring broker of their choice, and retain value-added brokerage services.
SunGard recently announced its agreement to acquire the Brut ECN, buying out its banking partners in the venture.
Richard Schenkman, chief executive officer of Brut, say: "This partnership provides for the further integration of our sponsorship programme, which strengthens the relationship between institutional investors and broker-dealers."
Brut has also signed partnership agreements with Eze Castle, Moxy, Macgregor, Bridge Trading and FlexTrade.