Electronic trading vendor NYFIX has announced the successful roll-out of its "next-generation" wireless handheld computer for brokers operating on the New York Stock Exchange trading floor.
The newest addition to the NYFIX product line, Mobile Broker, incorporates electronic order execution directly at the point of sale, building on the company's existing handheld that transmits market information from exchange brokers to upstairs trader workstations.
Mobile Broker provides brokers with real-time trading capability directly from the "crowd," the area on the exchange floor surrounding the specialist posts where executions occur. By enabling brokers to electronically receive orders directly at the point of sale, Mobile Broker saves valuable "travel" time back and forth to the firm's booth, says NYFIX. The device simultaneously updates the booth, trader workstations and back office systems in a single step.
"Thus far, eight of our customers have signed contracts for Mobile Broker...and we expect widespread subscription for the service as we continue to implement the product on a firm-by-firm basis. Now that we can offer market information as well as order management and execution on a wireless platform, we believe this will strengthen our exchange automation products sales as well as our other products and services," says Peter Kilbinger Hansen, chief executive officer of NYFIX.