SunGard today announced that the interface between its Decalog order management system (OMS) and Lehman Brothers' Lehman Model Execution (LMX) algorithms went live.
LMX is Lehman Brothers' suite of model-driven order execution strategies that has been developed over the years by Lehman Brothers' quantitative analysis team. LMX strategies are designed to reduce market impact and deliver strong performance relative to the desired benchmark.
The LMX models are part of Lehman's Direct to ModelSM service, through which it makes available to clients the same tools used by its own equity traders.
Decalog provides portfolio management, compliance monitoring and trade order management functionalities, and helps streamline investment workflow and helps traders achieve best execution on local and cross-border trading operations.
Traders can now select the relevant execution strategy from Lehman Brothers' LMX directly from Decalog's OMS blotter in order to help achieve best execution. They can also benefit from Decalog's OMS features such as centralised order management, pre-trade compliance and a seamless trading workflow.
"We are excited by this opportunity to provide Decalog customers with a seamless and efficient way to access our algorithmic trading platform, and therefore to help them improve their execution performance," said Steve Vandermark, Executive Director, Execution Services Analytics, Lehman Brothers.
Thorsten Heissel, president of SunGard's Decalog business unit, added: "We are very pleased to partner with Lehman Brothers and to have one customer already live with our solution. This partnership will further help our customers to use the more advanced and reliable trading tools available to achieve best execution and help increase overall fund performance through better equity execution. Our customers can now download new and custom algorithms directly to their Decalog Trading Blotter without the need for software upgrades."
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Lehman Brothers (ticket symbol: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers' services, products and recruitment opportunities, visit www.lehman.com.
Decalog
A front- and middle-office solution for investment management activities at global asset management firms, Decalog covers portfolio management, performance analysis, compliance, trading and order management.
SunGard
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25 000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
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