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March 28, 2005

UNX and Macgregor to deliver direct market access

UNX, an agency brokerage providing electronic trading technologies and premium services, will deliver its algorithmic strategies and tactical trading capabilities through the XIP Order Management Network by Boston, Massachusetts-based Macgregor.

By CBR Staff Writer

The partnership will aim to provide improved efficiencies and increased speed to market with blotter-to-blotter connectivity to UNX’s trade execution platform, a consolidated, multi-broker resource offering customizable trading programs for institutional traders.

According to the company, the UNX trading platform also powers the MetaBook direct market access (DMA) user interface, a tactics engine which can synthetically apply tactics, such as pegging and discretion, across all electronic and manual destinations to which UNX connects. It also offers a suite of fourteen algorithmic market access (AMA) strategies, including VWAP, MetaPost and Stealth, which are designed to analyze market data, manage timing and market impact risks, and make intelligent order handling decisions.

In addition, UNX said its Equation rule-based trading engine analyzes the profile of orders based on user-defined criteria. It provides connectivity across major US equity market centers, including ECNs, ATSs, national and regional exchanges and a proprietary market data system, FlexStream, which provides rich order book information.

Our clients are under constant pressure to achieve best execution, said Stephen Alepa, EVP at Macgregor. UNX’s advanced trading algorithms and tactics provide our buy-side clients with a highly sophisticated and customizable trading solution that combines full depth of book with specialized trading strategies, and a tactics and execution system that is among the best in the industry.

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