Source: ADP Brokerage Services
ADP Brokerage Services Group, a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today that it is offering its clients access to Archipelago Exchange (ArcaEx), which is operated by Archipelago Holdings, Inc. (PCX: AX), the nation's first totally open, all electronic stock exchange in the U.S. Through ArcaEx, clients can trade more than 8,000 equity securities, including NYSE, NASDAQ, AMEX and PCX-listed securities, ETFs and other exchange-listed securities.
ArcaEx joins ADP Brokerage Processing Services' (BPS) suite of execution venues with its first Financial Information eXchange (FIX) interface. FIX protocol provides an open, de facto message standard for electronic trading. The addition of ArcaEx to ADP's execution network extends the diversity of available execution venues and provides clients with additional markets and larger liquidity.
"ADP clients will benefit from the transparency, speed, and best execution model ArcaEx offers to investors" said Mike Cormack, President, Archipelago. "Our open market structure provides traders with access to the same information creating an equal playing field for all market participants."
"The addition of the Archipelago Exchange to ADP's execution network is just another example of our continued and growing commitment to deliver the highest quality of service to our clients," said Charlie Marchesani, Senior Vice President, Product Development, ADP Brokerage Processing Services. "Clients will have access to additional markets and new opportunities to help them achieve their business goals."