FailStation is an industry utility that aggregates failed trade and settlement pre-matching data for investment managers, broker/dealers and custodian banks in real time. It allows the users to easily identify trades from all counterparties, thus allowing for a more efficient, cost effective and risk-reducing single industry solution.
âWe are incredibly pleased with our relationship with Liquidnet,â said Jose Manso, Executive Vice President of Sales and Marketing at Middle Office Solutions. âLiquidnet Select removes one of the industryâs most significant obstacles to realizing best execution â the need for institutional firms to satisfy broker commitments.â .
âOffering FailStation to our Members provides them an advantage in the post trade processing stage that they may have not previously had,â said Michael Cetrangola, head of Member Services at Liquidnet. âWe, at Liquidnet, continuously strive to produce and perform for our Members, which is one reason why Liquidnet has been ranked this year by leading investment managers and hedge funds as the number one overall performance leader two consecutive years for U.S. Equities Operations, according to Z/Yenâs 2009 survey of Operational Performance of Brokers.â