The DEx FIX integration offers direct market access to STN clients by allowing them to direct order flow via STN from their OMS through BNY Brokerage's DEx platform. Money managers connected to STN can now efficiently access the SonicPortSM front-end to work orders directly into the marketplace to reach all points of liquidity including ECNs and Nasdaq's order routing systems, as well as the NYSE and other exchanges.
Through this integration, clients can take advantage of the full range of SonicPort's services, including sophisticated trading order types, such as pegging and discretion; a proprietary smart order routing algorithm; web-based trade data reporting; built-in risk management tools; a FIX API connection; and a dedicated and professional trade support unit.
"We are always looking to expand the offerings available for our clients through the STN platform," said Mark Volker, senior vice president of SunGard Financial Networks and product manager of STN Securities. "Extending Sonic's capabilities to our clients expands their options for FIX-based direct market access."