BOSTON--May 9, 2005--Macgregor(R), a leading provider of execution process technology for the global financial community, announced today that they have deployed 100 algorithmic trading components to their buy-side client base including Credit Suisse First Boston's (CSFB's) Advanced Execution Services(R) (AES) and Morgan Stanley's Benchmark Execution Strategies (BXS). Macgregor XIP Order Management Network(TM)(OMN(TM)) clients have been able to adopt these components at an astounding rate and with very little effort. As of today, twenty-four of Macgregor's clients have at least one algorithmic trading component integrated into their workflow. Some of Macgregor's clients are using ten of the eleven components that are currently in production.
Manny Santayana, Managing Director, AES Sales, Americas at CSFB stated, "In October of 2003 Macgregor integrated our AES suite of algorithmic trading strategies into their system. Today several of Macgregor's clients have the full functionality of AES integrated into their workflow. Macgregor's Order Management Network has been an effective vehicle for our joint clients to adopt the AES platform and access new strategies and tactics as they become available."
"Macgregor has been proactive in the delivery of algorithmic trading tools to customers", stated Scott Stickler, Executive Director of Electronic Trading Services at Morgan Stanley. "Macgregor's distribution network was a key determinant in approaching them when we decided to make our Benchmark Execution Strategies (BXS) available directly to our mutual buy-side clients. Their seamless implementation will be beneficial for our clients as we rollout new strategies in the near future. Today, a good number of our clients are now using BXS through Macgregor's OMN and we expect that number to continue to rise."
Stephen Alepa, EVP, Client Services at Macgregor stated, "Signing a deal with a broker to offer their algorithms is the easy part--developing, deploying and supporting an integrated solution is the real challenge. To our clients and partners advantage, we have developed our entire solution including the FIX engine and we support everything from end-to-end. There are no additional third party vendors to coordinate with and very little for our buy-side clients to do. Add to that a team of people in R&D that are dedicated to just our advanced trading components and its easy to see how our model has enabled us to achieve this level of success."