FlexTrader to connect to Nyse MatchPoint
08 January 2008 | 1881 views | 0
Source: FlexTrade Systems
FlexTrade Systems, a leader in multi-asset algorithmic execution management systems, today announced that its FlexTRADER EMS will be the first algorithmic trading platform to provide direct access to NYSE MatchPoint, the new, portfolio-based, point in time electronic trading facility of the New York Stock Exchange, which will launch on January 22, 2008.
"With NYSE MatchPoint, our clients will be able to execute portfolio-based and single block trades through a fully viable non-displayed environment that trades all securities listed on the major and regional stock exchanges in the U.S.," said Vijay Kedia, president and CEO of FlexTrade Systems. "And since it is a 'neutral' exchange facility, connectivity to it is an ideal complement to a non-broker EMS such as FlexTRADER."
The first session match will occur after hours on January 22 at 4:45 p.m. Once fully operational, NYSE MatchPoint's crossing engine will match aggregated orders at predetermined sessions throughout regular hours and after hours of the Exchange. The intraday matching sessions will occur during regular hours at 10 a.m., 11 a.m., noon, 1 p.m., 2 p.m., and 3 p.m.
"FlexTRADER is a vital link to our members and their customers and we're excited to have the system partner with us," said James G. Ross, Vice President, NYSE MatchPoint. "The execution management portfolio capability of FlexTRADER is a great fit with NYSE MatchPoint's trading model."