The financial services unit of S3 Matching Technologies has concluded a deal to deliver advanced equity and options reporting and analysis for Scottrade, the leading branch-supported online investment firm.
Scottrade will use a number of customized tools and reports powered by S3's patented TeraMatch technology.
"Scottrade provides our customers with a quality trading experience every time they place a trade," says Matt Billings, Director of Trading Services for Scottrade. "S3's reporting capabilities and their understanding of the markets will augment Scottrade's ability to provide our customers with execution services they can rely on."
The S3 technology evaluates the best price for an equity or option almost as quickly as a trade is executed, and it uses market depth, not just NBBO, to analyze best execution. The information, acquired on a sub-second basis with millisecond support, provides for a detailed and timely understanding of trade performance, order flow and price improvements. The flexibility of S3's technology allows for customized solutions that facilitate execution quality enhancements for S3's clients using proprietary data quality management tools.
"With S3's reporting and analytics, Scottrade will be able to intimately examine all order flow and market data, including depth, and acquire the information needed to evaluate the quality of their customers' executions," says Rod Taylor, Vice President of Financial Services for S3.
S3's portfolio of services includes a future offering of real-time options and equities reporting for Scottrade.