Nyse Euronext (NYX) has partnered with William Ryan Group, to provide New York Stock Exchange floor brokers with a new technology platform that will allow them to effectively manage and analyze their transaction activity.
"Transaction cost analysis and management is an essential element for our firm to effectively manage and operate our floor based business," said Jonathan Corpina, Managing Partner of Meridian Partners Inc. "With it, we can offer our customers even more customizable execution solutions and opportunities."
The Execution Cost ManagementTM Analysis Service, which the William Ryan Group has customized for the NYSE, is available via a password-protected encrypted Web site that is updated every trading day, and includes both NYSE and NYSE Amex execution transaction cost data.
"NYSE is providing this technology to floor-based firms so they can easily access, monitor and analyze this information and use it effectively to benefit the diverse needs of their customers and manage their own business models efficiently," said Michael Rutigliano, Floor Operations Vice President and Broker Liaison.
The new service includes a variety of highly granular and useful analyses further enhanced by powerful graphics. The service calculates trading fees and rebates for all of a firm's NYSE and NYSE Amex executions and can also look at costs by algorithmic versus non-algorithmic trade executions, billable versus non-billable executions, and aggregate trading-volume analyses. Data is available for a single date or a user defined range of dates. Taken together, the analyses help floor brokers manage their business costs, track fees for each client, and gain greater insight into the trading activity performed for each customer.
"In today's trading environment, managing trading costs is an important component of managing trade flow" said Robert J. Hendrickson, President and CEO of William Ryan Group. "The benefits to NYSE floor brokers are immediate and tangible. Now, all NYSE floor based firms can readily access their trading cost data so that they can design and implement execution strategies, on behalf of their customers, and measure the results with accuratrrate and timely cost analysis."
Floor brokers differentiate the NYSE market model by blending sophisticated automation, like uniquely engineered algorithms in their hand-held order-management systems, with human expertise and value-added service to offer a highly managed solution for a very large and diverse community of customers.