New York-based Sonic Trading has launched a new direct access platform for institutional investors combining basket trading, smart order routing, built-in risk management tools, Web-based trade data reporting, a FIX API connection and trade desk support.
The new platform can be fully integrated with existing buy and sell-side order management solutions, and through Sonic's FIX API, clients can integrate front-end technology with its backend, says the company.
Additional features include index arbitrage and pairs trading, hot-keys, point and click execution, order management, average buy and sell price calculations, order status, ECN outbound routing, multiple account trade allocation, VWAP calculations, and the ability to reserve hidden, pegged, discretionary, immediate/cancel, and limit orders.