Texas-based NexTrend Technologies is beta testing its electronic direct access trading system (Edat).
NexTrend's proprietary trading system routes orders directly to market-makers, electronic communications networks (ECNs) and exchanges. The system will also provide brokers and customers with an improved ability to customise and control their back-office and front-end trading platforms, says the company.
Edat is a client-server based application that offers traders and investors streaming, real-time, stock market data and trading execution over the Internet or private network.
Mark Cherlin, president and CEO of NexTrend, says: "Brokers will be able to offer the NexTrend complete turnkey online trading and market data services to their customers in as little as 24 hours after signing on with NexTrend."
Unlike browser systems that employ Web-based static pages, NexTrend products use streaming, real-time data. This has enabled Edat users to execute and confirm trades in times as low as 300 milliseconds. Its architecture separates the functions of data delivery, access and processing, allowing streaming real-time transmission of and access to data to occur at consistently high speeds, says the company.
NexTrend is in the final stages of completing its initial licensing agreements for customers of the system, which is scheduled for commercial launch in August 2001.