Source: Advanced Financial Applications
Advanced Financial Applications (AFA), a leading provider of trading technologies to buy and sell side financial organizations, today announced that it has entered into an agreement to provide its IMPACT Pro to Piper Jaffray & Co., the chief operating subsidiary of Piper Jaffray Companies (NYSE: PJC).
Under the terms of the agreement, Piper Jaffray clients will be able to use AFA's web-based IMPACT Pro platform to access Piper Jaffray's algorithmic order types as well as traditional execution services.
IMPACT Pro will enable Piper Jaffray to provide its clients with an additional level of service that will help clients automate their trade execution and order management processes.
"We are pleased to work with AFA to offer enhanced services to our clients through the use of the IMPACT Pro platform, which we believe will add substantial value for our clients who wish to automate trade execution and order management," said Dean Stamos, head of Algorithmic and Program Trading (APT) at Piper Jaffray.
AFA's Chairman & CEO, Ameet Shah commented - "We are delighted to help Piper Jaffray expand its algorithmic trading capabilities into its client base with IMPACT Pro. Through Integrated Order Processing, we believe IMPACT Pro will bring additional benefits to Piper Jaffray clients by maximizing efficiency and reducing costs."