Source: Townsend Analytics
Townsend Analytics, a leading provider of global multi-broker, cross-asset electronic trading solutions, has integrated algorithms and advanced execution services for Asia and Canada from UBS Investment Bank into Townsend's flagship Execution Management System (EMS), RealTick.
Clients of both firms can now directly route algorithmic, direct market access (DMA) and care orders for Asian equities, and algorithmic and direct market access (DMA) orders for Canadian equities, to UBS through RealTick. Customizable strategies are tailored to each market center and include benchmark driven algorithms (Price Inline), participation algorithms (Volume Inline), TWAP, VWAP, Float, IS, Stop Loss and Hidden.
The use of sophisticated electronic trading techniques in Asia such as DMA and algorithmic trading is still in its infancy, hindered by fragmented markets, wide spreads, regulatory hurdles and local market nuances. Analysts such as Sang Lee, managing partner at Aite Group, believe that large sell-side firms like UBS can best lead the charge, as they have "the local presence and local expertise to figure out what's going on in a marketplace to develop algorithms that have their origins in the U.S. but are tailored to fit the local environment."
"Trading stocks in Asia is more difficult than in other markets - spreads are wider while liquidity is more challenging to access," said Tim Wildenberg, Managing Director, Head of European Direct Execution for UBS. "But UBS's proprietary algorithms and services, combined with RealTick's advanced execution management functionality, give our clients the technological advantage to take the lead in electronic trading in Asia."
"This latest offering from UBS gives our clients the control, speed, anonymity and reduced market impact they have been seeking in Asia and Canada," states Rustam Lam, Executive Director for Townsend Analytics. "And it underscores Townsend's overall commitment to seamlessly deliver the best global sources of liquidity and electronic execution within a couple clicks of the mouse," he adds.
Townsend's broker-neutral RealTick platform aggregates multiple brokers, destinations and products onto a single-screen format. All are accessible from customizable menus allowing for ease of use and fast electronic order routing.