The Baader Group already offers electronic trading of German equities on XETRA through Townsend Analytics' flagship Execution Management System (EMS), RealTick. By joining Townsend's multi-broker network, Baader expands its electronic execution capabilities to include foreign and domestic stocks, equity-based warrants, fixed income and derivative products, and major futures markets. Baader also will be able to offer access to regional German markets via the new XONTRO exchange order routing system through RealTick.

RealTick clients - which include hedge funds, institutional and proprietary trading desks, asset managers and professional traders - benefit from being able to electronically execute more than 79,500 exchange-listed products through one of the leading securities trading banks in Europe.

"Through RealTick, Baader Group can now offer our clients a single- platform solution for access to global exchanges as well as advanced trading functionality," comments Edward Strauss, Head of Sales and ElectronicTrading for Baader. "And as we seek to broaden our electronic execution business, we know that Townsend Analytics can seamlessly add new exchanges, products and markets," Strauss adds.

"We are excited to be in a position to expand upon our existing RealTick EMS offering to Baader Group," stated Townsend Analytics CEO Jeff Wecker. "This expansion is again proof of Townsend's commitment to supporting the growth of our European client base and represents a natural progression in our global multi-broker and multi-routing capabilities."

By choosing RealTick as the front end to its electronic execution services, Baader Group gains a flexible technology partner who can expand access to global markets and additional asset classes as desired. The agreement also allows Baader Group to accept multi-broker order flow from RealTick's substantial client base in 94 countries and territories around the world.