NYFIX Millennium recruits more bank backers

Banc of America Securities, JP Morgan & Co. and JP Morgan H&Q (formerly Chase H&Q) have joined the NYFIX Millennium Partnership, an interdealer-broker and alternative trading system.

  0 Be the first to comment

NYFIX Millennium recruits more bank backers

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

With these newest members, the Partnership now numbers 11 financial institutions, including Deutsche Bank, ING Barings, Lehman Brothers, Morgan Stanley Dean Witter, Sanford C. Bernstein & Co, SG Cowen Securities and UBS Warburg. This expansion coincides with the ongoing roll-out of the NYFIX Millennium ATS to the broker/dealer community.

"We view our investment in NYFIX Millennium as an important strategic initiative. It has the potential, in our minds, to provide clients with an additional option for improving price, and ultimately, best execution," says a senior official at JP Morgan & Co.

Millennium aims to help investors achieve price improvement, ensure anonymity and reduce market fragmentation through the electronic linkage of various liquidity sources, including exchanges and ECNs. It is majority-owned by NYFIX Inc, a supplier of trading systems to wholesale financial market participants.

Sponsored New Event Report – Natural Capital Finance

Comments: (0)

[Upcoming Webinar] Next Gen Payment Processing: How banks can embrace the futureFinextra Promoted[Upcoming Webinar] Next Gen Payment Processing: How banks can embrace the future