National Securities live on SunGard’s Brass
National Securities Corp., an independent-brokerage firm, has gone live with SunGard’s Brass, an Internet-based trade order, execution and compliance management system.
As a result, the firm “can monitor all trading activity while helping provide security and best execution for our customers,” Billy Groeneveld, director of trading for National Holdings Corp., the parent company of National Securities of New York, said in a statement.
The catalyst for using the system was the potential to reduce infrastructure and implementation costs.
SunGard’s Brass offers direct market access, reporting and compliance tools. It can be customized to the requirements of clients and costs are reduced, said Satish Mujumdar, chief operating officer of Wayne, Pa.-based SunGard’s Brass business unit.
Integre to offer administration services
Integre Advisors LLC, a New-York based asset management firm, is launching Integre Administration LLC, a subsidiary that will offer buy-side administration to asset managers.
Among the services that the firm will offer is a trading desk to ensure best execution, daily reporting of holdings and cash positions, portfolio accounting and reconciliation.
“Many smaller money managers are in a bind,” said Manny Weintraub, founder and principal of Integre Advisors. “With the market’s erosion, portfolios are down, and so are fees, while infrastructure costs remain the same.”
These buy-side services might enable managers to cut the costs and reduce the number of people they employ. From a technological perspective, Integre offers a database structure, computer systems that are located in a secure location, and on-site and off-site data backup and storage.
