So Sungard just became a Broker/Dealer in addition to their core business of trading and finance IT solutions? So now in effect it would be "Securities offered through Sungard." Is this correct?
Not really, They already owned another BD and changed its name to Andover Capital Partners. Sungard bought the assets of Andover Brokerage only, not the BD.
Andover Capital Partners is owned by SDS. That is the new name for what we all know as "Andover". I believe that Andover Brokerage, LLC is folded up...? I hope that answers your question. JK
Why would SDS want a daytrading operation? wouldn't they be more interested in software and clearing as doc said? don bright mentioned changes in structure. what could he be talking about. what other info did they give you in NY at the meeting. You said the SD office has benefited a lot from the takeover. what about other offices or are you just involved with san diego. what benefits did you receive?
If that's the case then it would seem to me like SDS/Andover just became the 900lb gorilla of day-trading industry. Because regardless of whether one was retail or prop your account would be implicitly secured up by Sungard's balance sheet. If I was a looking for Day-trading shop that feature alone would make them hard to beat. Thanks, Dr. Zhivodka
if SDS keeps the day trading ops it would be a behemoth. would they want that is the question. as far as meeting in NYC with SDS CEO what did he say about how the daytrading ops would be run. Is Andover in an expansion mode or firing unproductive traders as others are?
SDS shocked the street when they bought Andover... we were told by SDS Group CEO that they only buy profitable companies and Andover had the right software and was profitable. The structure change was there will be no sub-LLC members of Andover. All members/ traders are members of Andover directly now. From my understanding that was an SEC thing, not an SDS thing. I am sure that all the offices are seeing the benefits. The biggest benefit we have seen is how SDS gives a lot of credibility to Andover and traders have been very interested in joining. Our office in particular has added more experienced traders post-merger and the phone keeps ringing. The more experienced traders in an office the better and we have seen some great people come in. Or maybe it was just our pretty faces? NAH!!!! LOL JK