Investec Ernst & Company has implemented a stock and options trading system created by Chicago-based MM Squared (MM2) across its dealing operations.
The new system enables traders to place stock and options orders on all US listed options exchanges; access the national best bid and offer (NBBO) and market depth data; view existing options on a single page; obtain real time quotes on all domestic exchanges; and enter trades without having to know lengthy options symbols. The system can be accessed via the Internet or direct wire.
Patrick Carroll, senior vice president of Investec Ernst, says: "The options market is extremely fragmented and MM Squared provides traders with the resources they need to make decisions and place trades on all major exchanges quickly and easily."
Carroll says the MM2 system will complement Investec's existing Worldwide Options Web (WOW) technology, which provides multi-exchange electronic access and order entry, and features basket trading, open order browse screens, and transaction history.