Fulcrum has been in production with NYFIX's listed trading platform, FIXTrader(R), since 2001 and when the firm decided to reevaluate their system options in the OTC space, NYFIX was the logical choice. "We've been impressed with NYFIX's listed offering and their high level of service. Their expertise in both the Listed and OTC markets and our experience working with NYFIX on the Listed side made us comfortable with the decision to move ahead with NYFIX Platinum for our entire desk," commented Doug Henderson, Fulcrum's Director of Trading.
The NYFIX Platinum system is a combined Listed and OTC trading platform. Designed by industry traders and Compliance professionals, NYFIX Platinum allows traders to facilitate order flow easily whether acting as principal, agent or both (mixed capacity) utilizing one of the sophisticated auto-allocation parameters in its Fee-based offering. 2004 enhancements to NYFIX Platinum included introducing full support for Exchange Listed stocks trading on electronic markets to the Renaissance Market Access (RMA), the Nasdaq workstation. This included support for dually-listed stocks and connections to Super Montage for exchange listed stocks, and all major ECNs. RMA also added automated Third Market ACT reporting; CTS and CQS market data directly from SIAC; and integrated Risk Management. Auto-Trade Allocation and all other automated processes currently used for OTC stocks can now be used with listed securities.
"We are excited to be working with Fulcrum and expand our services we provide to their trading operations," added Keith Jamaitis, President of NYFIX USA. "We are continuing to develop the NYFIX Platinum system and we believe the offering has proven to be very competitive with other systems in this space. We have 13 firms now in production and are seeing increased interest from the brokerage community now that NYFIX Platinum is an established system choice for the combined OTC/listed trader's desktop in the marketplace."