The partnership enables Baird to offer Fox Trader, Fox River’s execution software that incorporates trader logic, to its institutional equity clients.
The Fox Trader execution system employs ‘trader logic’, enabling Fox River Execution’s algorithms to mimic the thought processes to provide best price and sources of liquidity. Moreover, neither firm operates a proprietary trading desk, nor has any ownership interest or bias regarding execution venues.
Bill Mahler, co-head of global equity capital markets and director of institutional equity services at Baird, said: “We are very pleased to partner with Fox River Execution and to be able to provide clients with this unique execution offering. Clients told us what they wanted with regard to electronic trading, and we consider Fox Trader to be the solution that will best meet their needs.”
Ron Santella, CEO of Fox River, said: “Fox River is excited about offering our algorithmic execution services to Baird’s institutional clients. This is about providing clients the optimal solution by combining our algorithmic execution with Baird’s institutional platform.”