Macgregor signs up as GSTP concentrator
12 December 2001 | 3009 views | 0
Boston-based buy-side trading technology vendor Macgregor is to act as a 'concentrator' for the GSTP Transaction Flow Manager straight-through processing engine.
This new link to the GSTP utility will expand the reach of the Macgregor FIX network, which currently provides clients with access to 115 brokers and every major ECN, and processes approximately 150 million shares per day.
Steven Crosby, acting chief executive officer, at GSTP AG says: "Macgregor's buy-side client base and their large network of brokers is a natural platform for GSTP concentrator services."
Izzy Kutnowski, vice president and director, global technology, at Toronto Dominion Asset Management, comments: "We are a pilot member of GSTP, and the TFM is an integral part of our STP strategy. Macgregor provides our OMS (order management system), which is another key component of that STP workflow. Macgregor's decision to offer concentrator services and build that connectivity to the TFM directly from our OMS really enhances the overall value of the system as an STP resource."
At present, around 20 firms, including depositories, vendors and brokers, have expressed their intention to offer concentrator services to the GSTP.