UNX, a leading provider of innovative trading technology solutions, welcomes broker-dealer Mismi, Inc., into the UNX multi-broker Marketplace.
Institutional traders can now access Mismi's acclaimed trading strategies and route orders directly to Mismi via UNX's Catalyst Execution Management System (EMS).
Mismi's algorithms include Portfolio IS, its industry-leading portfolio implementation shortfall technology that provides superior portfolio execution capabilities in today's fragmented and volatile markets. Portfolio IS continuously re-optimizes its trading schedule in response to real-time changes in portfolio and market conditions, and seeks liquidity in displayed and dark markets. Other strategies include VWAP and participation algorithms, as well as Mismi's latest SCALE and SMART strategies.
The firm advocates Catalyst as a delivery platform for its services because Catalyst's open technology framework and advanced software development kit (SDK) allow Mismi to directly control the integration, customization and deployment of new services and strategies as they are being developed.
"Our objective is to provide state-of-the-art trading strategies that offer superior, unconflicted execution to our clients, and Catalyst's technology facilitates rapid implementation and customization," said Dr. Costis Maglaras, Head of Research for Mismi. "We can tailor our offerings to specifically address the trading style and considerations of each client, as well as quickly respond to market structure changes with new and enhanced algorithms and smart order routing."
According to UNX CEO Thomas Kim, the ability for brokers to quickly integrate and update their own specific offerings into a multi-broker platform represents a dramatic departure from—and significant advantage over—existing trading technology.
"The problem with traditional EMS providers is that they take too long to onboard a new client or integrate additional trading products and services," explains Kim, "all while charging significant IT fees."
"Catalyst empowers broker-dealers to integrate proprietary content and services themselves using the SDK, as well as customize deployment to clients at their own discretion, on their timetable," he adds. "And our open technology requires substantially less IT support than legacy EMSs, saving clients both time and money."
In a strong affirmation of Catalyst's value in delivering customizable technology, content and services, NYSE Technologies recently announced it will distribute Catalyst globally as the front end for access to NYSE's trading and data services.
UNX continues to integrate algorithms, portfolio trading and other brokerage electronic trading services into the Catalyst platform. Among some of the most recent broker-dealer integrations are the latest offerings from Credit Suisse AES, Fidelity Capital Markets, Goldman Sachs Electronic Trading, INTL Trading, Knight and UBS Investment Bank.
UNX also is working with third-party vendors who wish to distribute their offerings via the Catalyst Marketplace for use by Catalyst clients. New Marketplace participants include QSG, International Class Actions Management (ICAM) and Titan Trading Analytics.