NEW YORK, May 5 /PRNewswire/ -- UNX LLC, a leading provider
of innovative trading technology solutions, has integrated the full
suite of Knight Direct's electronic trading services and algorithms
for equities into UNX's broker-neutral Catalyst Execution
Management System (EMS) and Portal.
While UNX has long provided access to Knight Link and Knight
Match products, this new connectivity allows both firms' clients to
directly route DMA and worked orders to Knight for execution using
the Catalyst Portal front end.
Clients also can employ Knight's suite of algorithmic trading
and smart-order routing strategies, taking advantage of Knight's
industry-leading technology and liquidity in displayed and dark
markets. Solutions include VWAP and participation algorithms, as
well as Knight's latest FAN, Oasis, Covert and Sumo
liquidity-seeking and SOR strategies.
Furthermore, Catalyst's open technology framework and advanced
Software Development Kit (SDK) will allow Knight to directly
control the integration, customization and deployment of new
services and strategies as they are being developed. This
innovative ability for brokers to quickly integrate their own
specific offerings into a multi-broker platform represents a
dramatic departure from existing trading technology.
"Buy-side clients always have been dependent upon their EMS
provider's ability to integrate brokerage trading products and
services rapidly and efficiently, and the sell side often is
limited in what it can integrate with independent platforms,"
explains UNX CEO Thomas Kim.
"Catalyst is redefining broker-neutral trading technology by
empowering broker-dealers to rapidly and seamlessly integrate new
algorithmic strategies as well as other proprietary
content/services at their own discretion."
Knight Direct Managing Director Joseph
Wald affirms that Catalyst's new paradigm aligns with the
company's approach. "Our objective is to offer buy- and sell-side
clients the customized features that support individual trading
styles and enhance tactical efficiencies, and Catalyst's open
technology provides the ideal tool and gateway to do so."
"What's more, Knight is continually enhancing our algorithmic
trading solutions to adapt to client needs, changes in market
structure and competitive forces, so Catalyst will enhance our
ability to deliver our solutions to mutual clients as quickly as
possible," he adds.
About Catalyst®
Catalyst is an electronic trading portal and broker-neutral
execution management system (EMS) for single stock and portfolio
trading for institutional clients. Built in a modular fashion using
the latest .NET and WPF technology from Microsoft® for flexibility
and scalability, Catalyst is ideally suited to creating custom
tailored solutions for buy-side institutions and sell-side broker
dealers through the UNX SDK. An independent offering, Catalyst
streamlines multi-broker trading workflow, provides for greater
efficiency in the markets and delivers to broker dealers and
third-party vendors a platform to deliver proprietary content with
complete control.
About UNX LLC:
Founded in 1999, UNX is an independent trading technology firm
and agency broker that provides advanced electronic trading
technology solutions for buy-side institutions and sell-side
broker-dealers through its open architecture platform, Catalyst®
and the UNX Network. Its innovative, open technology helps
institutional traders find best execution opportunities,
streamlines trade operations and provides broker-dealers with an
open platform to deliver proprietary content.
About Knight:
Knight Capital Group, Inc. (Nasdaq: NITE) is a global financial
services firm that provides market access and trade execution
services across multiple asset classes to buy- and sell-side firms.
Knight's hybrid market model features complementary electronic and
voice trade execution services in global equities and fixed income
as well as foreign exchange, futures and options. The firm is the
leading source of liquidity in U.S. equities by share volume.
Knight also offers capital markets services to corporate issuers.
Knight is headquartered in Jersey City,
NJ with a growing global presence across North America, Europe and the Asia-Pacific region. The Knight Direct
algorithmic suite is offered through Knight Direct LLC and Knight
Equity Markets, L.P., members FINRA & SIPC and subsidiaries of
Knight Capital Group.
©2010 UNX LLC Member FINRA/SIPC. All rights reserved. UNX and
Catalyst are registered trademarks of UNX LLC.
SOURCE UNX LLC