Thomson signs first direct access trading deal for AutEx users
21 January 2004 | 7294 views | 0
Thomson Financial has signed an agreement to distribute Lava Trading's equity dealing system to users of its order routing service, AutEx.
The Lava platform will provide AutEx clients with connectivity to the US equity markets, including Nasdaq, listed exchanges, ECNs and ATSs.
Thomson says the interface will also enable AutEx users to initiate a trade directly from their order management systems.
Richard Korhammer, chairman and chief executive officer, Lava Trading, says: "This is the first direct access opportunity made available to AutEx users, and will be revolutionary for self-directed and firm trading on the system."
The AutEx network handles nearly one million indications daily, allowing more than 300 brokers to advertise inventory to 500 institutions. Access to the network is via a single connection that supports all FIX messaging, including IOIs, ATs, order routing and allocations.