Fox River Upgrades US Equity Algo
SunGard's Fox River has added to its suite of US equity algorithms with a "dollar certain" algo for when traders execute a trade in dollars and not in shares. In order to help with risk mitigation and remove manual calculations, the algorithm will automatically calculate the conversion.
"Fox River's dollar certain algo was driven by customer requests and designed to help them become more efficient, which is one of their key challenges. This new algo helps turn a purely manual process into an automated one, helping to save a trader's valuable time, increase efficiency and reduce operational risk," says Bob Santella, chief operating officer for SunGard's Fox River and Valdi trading solutions in the US.
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