Townsend Analytics adds UBS algorithms to RealTick platform
26 July 2007 | 1995 views | 0
Source: Townsend Analytics
Townsend Analytics, a leading provider of multi-broker, multi-asset, multi- region and multi-route electronic trading solutions for the global capital markets, has integrated two new algorithmic trading strategies from UBS Investment Bank into Townsend's flagship Execution Management System (EMS), RealTick.
The liquidity-seeking algorithms, including Tap and TapNow, are the latest addition to the UBS global Direct Execution services available through RealTick since 2005.
Both algorithms are customizable and seek liquidity from all available sources, including UBS' large internal pool of liquidity, other alternative trading systems and dark pools, and traditional exchanges and displayed markets. Tap offers the trader a range of urgency options which control how fast an order fills, and how much of the order may interact with displayed markets. It also minimizes exposure to 'gaming' and 'negative selection' - commonly cited drawbacks of dark pool interaction.
TapNow is a highly aggressive variant of Tap. It seeks liquidity with high urgency for situations in which speed of execution is critical. TapNow is designed to also access dark and displayed market liquidity sources simultaneously.
"Our clients already use RealTick for its multi-broker cross-asset class trading capabilities and advanced execution management functionality," states Tim Wildenberg, European Head of Direct Execution for UBS Investment Bank. "Now they can further maximize execution opportunities in the global equities markets with these dynamic additions to our proprietary suite of algorithms," he adds.
"UBS Investment Bank is truly a leading provider of DMA, portfolio and algorithmic execution strategies, so we're pleased they're making these highly advanced strategies available right now to both firms' clients," states Rustam Lam, Executive Director for Townsend Analytics. "UBS represents a highly respected addition to our global multi-broker network and we believe traders will see a significant value add across their European, U.S. and Asian markets trading as a result."
The new connectivity with RealTick allows UBS to accept order flow from Townsend Analytics' institutional client base in 94 countries and territories around the world.