Automated Trading Desk (ATD), a provider of custom execution services for the equity markets, is to use the peer-to-peer network, BNET, from SunGard Trading Systems/Brass to connect to its 200+ broker-dealers.
ATD will be using the BNET dealer-to-dealer network to allow firms to send orders to its electronic wholesale trading desk.
ATD executed almost four per cent of all trades on Nasdaq and approximately two per cent of listed trades on the New York Stock Exchange in 2003.
James Leman, president of SunGard Trading Systems/Brass, says: "BNET is one of the premier networks for connecting market makers, and we're excited to have ATD providing further value to our clients."