Mixit decided to build this connection in response to the escalating costs of trade execution caused by Reg NMS. In particular, broker dealers who decided to delegate compliance to the protected markets have seen their fees increase much more than they expected and in some cases as much as 50% above pre-Reg NMS levels. By offering Selero Order Routing to their customers, Mixit is offering them a way to quickly and easily adjust course, lower their costs, and deliver best execution to their customers using execution strategies designed expressly for the Reg NMS world.
âSeleroâs Smart Order Routing offers our customers a chance to increase their control over trade execution, and the execution services available from Seleroâs partner Nunami Services LLC allows them to fill any holes they may have in their exchange memberships,â said Walter Fitzgerald, CEO of Mixit.
âMixitâs clients picked an industry leading OMS,â said Fred Horn, CEO of Selero. âSelero is pleased to extend that OMS with the execution strategies traders need to provide best execution to their customers in todayâs environment.â