Mantara, Inc., a provider of advanced technology solutions for high-frequency trading, announced that it has received broker-dealer registration approval from FINRA for MantaraXâ¢, its new trading entity. Established to offer clients greater flexibility in structuring access to and executing order flow through Mantaraâs expressWayâ¢ trading platform, MantaraX underscores the Companyâs commitment to providing client-oriented approaches to delivering the benefits of its ultra-low latency trading technology.
MantaraX was established as a ânon-executingâ broker-dealer for the express purpose of providing Mantaraâs sponsoring broker-dealer clients with a technology business model that directly supports tighter alignment of trade execution costs and associated revenue streams. Sponsoring broker-dealer clients now have the option to apply variable costs to their trading technology based on the volume of commission dollars generated from trade executions initiated through Mantaraâs expressWay. This reduces the broker-dealerâs exposure to fixed upfront expenditures and monthly fees that may not be supported by commission revenue generated by their sponsored clients.
Commenting on the newly launched broker-dealer, John Power, CFO of Mantara and CEO of MantaraX, said, âWe are delighted to provide our sponsoring broker-dealer clients with the ability to custom-structure their participation with Mantara for a solution that best fits their usage model and provides their high-frequency trading clients with seamless access to expressWayâs leading edge execution software. It is innovative approaches such as these that place Mantara at the forefront of the technology providers in our space.â
Kevin Beadles, managing director of Wedbush Securities, stated, âWe are excited to see MantaraX established as a registered broker-dealer. We believe this will support a partnership approach that will enable us to grow our business well beyond the conventional models currently deployed through more traditional software vendor relationships.â