UNX enhances order management tools
01 May 2007 | 1276 views | 0
UNX, Inc., the market structure experts and innovative electronic trading technology company, today announced that it has enhanced its advanced execution toolset to address market structure changes following the launch of Phase I of Regulation National Market System (Reg. NMS).
After analyzing recent changes in market structure brought on by the launch of Reg. NMS, and evaluating third-party and in-house cost analyses of trades executed through its platform, UNXR has enhanced and optimized its suite of advanced tactical order handling technologies, which provide the core framework for the firm's proprietary Algorithmic Market Access system.
Additionally, to take advantage of the constantly evolving market structure, UNX has added two new advanced order tactics to its toolset: Stealth, which monitors the market for liquidity and only enters it to execute at a pre-determined price or volume; and Midpoint IOC Probe, which looks for hidden liquidity at the mid-point. These and other UNX tactics can be customized to fit the needs of each client and can be combined to create a more sophisticated order handling logic.
"For UNX, the issues raised by Reg. NMS are not simply about compliance; they're about optimizing our execution fabric to overcome the challenges that fragmentation and complex market structure create," said Scott Harrison, CEO of UNX. "The recent enhancements to our tactical execution framework will allow us to leverage our NMS-optimized platform to deliver new algorithms and order types, enabling us to continue offering our clients best execution opportunities in the market."
UNX continually monitors and evaluates its Transaction Cost Analysis system to ensure that the company's intelligent tactical order handling technologies assist the client in finding the best prices for trades executed over its system. That process, along with UNX's significant investments in market structure expertise, has resulted in the company achieving top rankings in the Plexus Group report over the last two years.