InfoReach, Inc. Provides Nexa Technologies with Addition to its Trading Technology Product Line
Washington, DC, June 19, 2006 – Nexa Technologies, Inc., a leading provider of advanced trading solutions and wholly-owned subsidiary of Penson Worldwide, Inc. (NASDAQ: PNSN), today announced the launch of Aspect TMS, its new ASP-based Direct Market Access (DMA) trading platform.
Aspect TMS, powered by InfoReach, is an ASP-based trade management system that combines advanced order entry, rule-based trading, order management and FIX connectivity for equities, options, futures, and FOREX in a single broker-neutral trading platform. Fully customizable, Aspect TMS gives institutional traders broad flexibility to configure the platform to suit their particular trading styles and methodologies. The platform has features to suit buy-side and sell-side users and an API for the implementation of additional tools.
Aspect TMS will augment Nexa’s suite of online brokerage and trading solutions, which currently includes direct access trading applications, back-office account management systems, real-time and historical market data, and FIX execution services. Nexa’s product line, which spans the complete client life-cycle from individual traders to professional money managers, ranges from browser-based trading applications to robust Level II DMA platforms. Aspect TMS represents a strong addition to Nexa’s line of products for institutional traders.
“Adding this powerful platform to our already expansive product suite will give Nexa access to a new market segment; the vast marketplace of institutional traders who need such functionality as automated and algorithmic trading, order routing, trading multiple asset classes as single instruments or baskets, pre- and post-trade analytics, and real-time position management,” said Eric Stoop, President, Nexa Technologies.
The strategic partnership with InfoReach, Inc., a financial securities trading technology firm, was developed through Nexa Technologies’ affiliate, Penson Financial Services, Inc. Through the arrangement, Nexa will also provide InfoReach with additional exchange connectivity through Nexa’s FastPath FIX Gateway.
“We are very excited to enter into this alliance with Nexa and Penson Financial,” said Allen Zaydlin, President of InfoReach, Inc. “Through this relationship, we are able to expand the reach of our trade management system within buy- and sell-side firms."