With the ongoing evolution of market structure, UNXâs next generation platform resolves problems caused by the increasing division of the marketplace into quotes versus prints, a division which can hurt the ability to get trades done. "We are extremely pleased with the latest version of the UNX Platform," commented Managing Partner Kevin Means from Alpha Equity Management. "UNXâs depth-of-book market data, combined with its independent and unbiased routing platform, help us implement our trading strategies while sweeping the marketplace for best execution opportunities."
As a strategic execution tool, MetaECN powers the tradersâ ability to apply advanced execution functionality across all ECNs to which UNX connects, even if an ECN does not natively support those tools. In addition, MetaECN offers powerful trading capability to address the problem of locked and crossed markets, which have grown dramatically due to the fragmentation of the equities market. "We have been very successful at applying the UNX routing algorithms and order types," added Head Trader Brian Stangel from Hanseatic Group, Inc. "In using the UNX Platform, we have become more proficient in working larger positions â especially in thinly traded names â and have successfully managed fragmentation to get efficient pricing and execution in the market."
Other new functionality and upgrades to the Universal Brokerage Platform include: support for extended hours and preferred stock trading, the addition of new destinations for listed stock trading, more customized order entry fields, a new discretion option, and a messaging system that alerts traders to real-time market structure updates.
"As market structure experts, UNX is focused on resolving problems caused by fragmentation in the U.S. equities marketplace," said Randy Abernethy, CEO of UNX.
"These upgrades enable traders to make more informed decisions about how, when and where to execute their orders, giving our clients a significant advantage over their competitors," Mr. Abernethy added. "With such rich functionality and detailed market information, clients can lower the market impact and overall cost of their trades."
Press Release Contact: