to Institutions and Hedge Funds â
SDS Financial Technologies, a leading provider of powerful, comprehensive trading and electronic marketplace solutions for institutions, exchanges and hedge funds, today announced that On Point Executions LLC, an agency-only broker has selected SDS Trader to launch its new On Point Trader electronic execution platform. This platform handles both options and equities and provides streamlined order flow to the exchanges, faster turn-around times and a competitive edge for On Pointâs clients.
On Point Trader is a hybrid system platform with a smart order router component and compliant execution platform that will provide On Point with the technology they need to become a full-service provider. Built on SDS Trader technology, the next generation direct market access trading platform, On Point Trader is a cost-effective way for large institutions to handle all their order flow, have seamless routing, be completely compliant with the exchanges and provide a way for them to get their workload off of their desks. On Point Trader offers the enhanced capability of accepting all order types, no matter what the size, and electronically routes the order flow supported by the respective markets. In the past, clients would have to break up order flow, but now clients can route all order flow directly through On Point Trader and receive high quality executions.
Cost, Speed and Compliance
A key need for many On Point customers is liquidity on order flow. On Point Trader has the functionality to sweep the markets and seek out liquidity that is not available on the exchanges with an average turn around time of less than one second. In the past, if On Point had to sweep the markets they would use an additional piece of software, while incurring costs that were passed on to the client. Now, with smart order routing On Point can sweep the markets and pass the savings on to their clients.
When dealing with options the amount you can grab manually is minimal. Now with On Point Trader, 95% of the available opportunities can come through the platform that clients had to previously route other ways.
âWhatever system my customers were using, the costs incurred by using those other systems versus using On Point Trader will be drastically reduced,â says Paul Carrozzo, co-principal at On Point. âOn Point Trader will be competitively priced and offer a complete compliance solution.â
Relevant Metrics â Just What the Trader Ordered
One of the key attributes of On Point Trader is that it will be the first order management system that has the functionality to provide metrics to validate the quality of execution. At the end of the month, On Point will provide its customers with a metrics report that will detail exactly what On Point executed for them that specific month.
âDefining the execution metric for a trader is an important piece of information that will demonstrate to their clients exactly how well they are executing their orders. Itâs a great selling feature for our clients and an excellent value-added service that we can provide to the industry.â
On Point plans to route all orders electronically, but any order that is not handled electronically will be sent down to the On Point desk to seek liquidity on the floor. In the future, On Point plans to work with SDS Financial Technologies and actively develop the On Point Trader application so it can be tailored to meet its clientâs specific needs and support their different trading styles to offer a customized trading solution in one system.
âWe are excited to be offering our new On Point Trader application and we know that our system is built on the best backbone technology in the business, SDS Trader,â says Carrozzo. âOn Point selected SDS Financial Technologies to provide us with the technology for our execution platform based on their reputation for integrity and commitment to their clients. SDS provided us with the best core technology that was innovative and adaptable to serve our clientâs ever-changing needs. We are confident that we selected the best technology provider in the business.â
âSDS is pleased to partner with On Point to develop the On Point Trader application to enable them to have a high-quality electronic trading solution to help drive their clientâs business,â says Peter Maragos, Managing Director of SDS Financial Technologies. âOn Pointâs customerâs will benefit from this powerful and flexible order management system and we are delighted to play a key role to assist in On Pointâs growth in the market place.â