LONDON, April 22 /PRNewswire/ --
- Users of Townsend's RealTick execution management system (EMS) can directly route to pioneering dark pool for U.K. listed equities
Townsend Analytics (http://www.townsendanalytics.com), a leading provider of global multi-broker, cross-asset electronic trading solutions, is adding the recently launched, broker-neutral Euro Millennium dark pool from NYFIX to its extensive choice of destination offerings through Townsend's RealTick(R) EMS.
The connection enables RealTick's buy- and sell-side clients to route electronic orders for UK listed cash equities today, and will be rolling out other major European markets over the course of 2008. These orders can be sent directly to the dark pool itself or through a preferred broker. Traders can employ NYFIX's continuous, real-time matching algorithms to execute trades within the best bid/offer of the primary market as well as send pass-through orders. Traders also can let orders reside in the system until a natural fill arises to minimize market impact.
European equity markets are undergoing dramatic transformation, driven by regulatory changes allowing cross-border and off-exchange trading, as well as by the growth in electronic and algorithmic trading. While these catalysts have in turn spurred the development of other dark pools, ETFs, Alternative Trading Systems (ATSs) and quoting venues, Euro Millennium's unique neutrality and open market model set it apart.
"As a truly open European dark pool, Euro Millennium supports all market participants seeking price improvement and minimal market impact--be they buy-side, sell-side or the hedge fund community," affirms Paul Kelly, Director, NYFIX International Ltd. "Townsend is a natural partner for NYFIX as we are closely aligned in our desire to provide our clients with optimal trade execution," he explains.
"We are pleased to be one of the first EMS platforms to connect to Euro Millennium and to offer our clients yet another opportunity for price and volume discovery with complete anonymity," comments Michel Finzi, Managing Director, Global Head of Sales and Marketing for Townsend Analytics. "We have a successful relationship with the NYFIX Millennium U.S. dark pool, and look forward to contributing to the growth and support of their European venue," he adds.
Townsend's RealTick EMS aggregates multiple brokers, destinations and products onto a single-screen format for ease of use and faster electronic order routing. Clients include institutional and proprietary trading desks, hedge funds, CTAs, FCMs, buy-side institutions and professional traders in 94 countries and territories around the world.
RealTick, created by Townsend Analytics, is the electronic trading industry's premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick's advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit http://www.realtick.com.
-- RealTick is a registered trademark of Townsend Analytics, Ltd.
About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows(R); the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation's first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm's four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers. For more information, visit http://www.taltrade.com.
About NYFIX, Inc.
A pioneer in electronic trading solutions, NYFIX continues to transform trading through innovation. The NYFIX Marketplace(TM) is a global community of trading counterparties utilizing innovative services that optimize the business of trading. The NYFIX Millennium ATS(R) provides the Marketplace community with new methods of accessing liquidity. NYFIX also provides realtime information and analytic services for liquidity discovery. A trusted business partner to buy-side and sell-side alike, NYFIX enables ultra-low touch, low impact market access and end-to- end transaction processing. NYFIX International Limited, a subsidiary of NYFIX, Inc., is the operator of Euro Millennium, and is authorized and regulated by the UK Financial Services Authority, FRN 400884. Please visit http://www.nyfix.com for more information about NYFIX and http://www.thinkliquidity.com for more information about Euro Millennium.
Anne Aldrich, +1-312-787-1642, email@example.com, for Townsend Analytics; or Todd Swearingen of Townsend Analytics, +1-312-442-8656, firstname.lastname@example.org; or Melissa Rowling of Greentarget, +44-0-20-7680-5051|5065, email@example.com, for NYFIX, Inc.