Source: THomson Financial
Thomson Financial, an operating unit of The Thomson Corporation (NYSE: TOC, TSX: TOC) and leading provider of information and technology solutions to the worldwide financial community, today announced an agreement with BNY Brokerage Inc., subsidiary of The Bank of New York and member of BNY Securities Group, to integrate its Direct Execution Services (DEx) equity trading platform with Thomson AutEx, the industry's leading online real-time network and database for order routing, indications of interest, advertised trades and allocations.
Powered by the BNY Brokerage SonicSuite of services, DEx will provide Thomson AutEx clients with direct electronic access to all electronic markets and the opportunity to direct order flow straight from their order management system. Through this FIX connection, clients will receive intelligent order routing and direct connectivity to all major pools of liquidity, including Nasdaq, listed exchanges, ECNs and ATSs.
"DEx's electronic trading capabilities offer complete access to all major liquidity sources and is an ideal compliment to the Thomson AutEx network," said Carey S. Pack, president of BNY Brokerage. "DEx also offers clients the flexibility to connect to in-house applications, proprietary analytics and back-office technologies," said Pack.
"Our goal is to offer best of breed solutions, enabling AutEx clients to make better trading decisions," said Ken Wagner, chief operating officer, Global Transactions Services, Thomson Financial. "The addition of BNY Brokerage's exemplary technology will further enhance the quality and depth of our offering," said Wagner.
The Thomson AutEx network handles nearly one million indications daily, enabling more than 300 global brokers to advertise inventory to more than 500 institutions. Access to the network is via an efficient, single connection that supports all FIX messaging, including indications of interest, advertised trades, order routing and allocations, to the global trading community.