Townsend Analytics Integrates with NYSE MatchPoint Dark Block Trading Facility
Users of Townsend’s RealTick execution management system (EMS) can access world’s first portfolio-based, point-in-time electronic exchange facility for leak-proof block trading
Chicago, IL, June 2, 2008— Townsend Analytics (www.townsendanalytics.com), a leading provider of global multi-broker, cross-asset electronic trading solutions, is adding the NYSE MatchPoint network to its extensive choice of destination offerings through Townsend’s RealTick® EMS.
The direct connection enables RealTick’s buy- and sell-side clients to match block and portfolio-based orders anonymously with one of the world’s largest liquidity pools. Traders can execute single block trades or buy and sell within a basket and look for internal matches before that flow interacts with the rest of the liquidity pool.They can also specify minimum-share requirements for stocks and apply net cash constraints to portfolios to manage their risk.
As global markets become increasingly fragmented and visible liquidity shrinks, dark pools are gaining traction among institutions seeking anonymous block-trading opportunities with minimal market impact.According to analysts at the Tabb Group, order flow from crossing networks and dark venues now comprises 15%of buy-side trading flow--an annual rate increase of over 95% from 2004-2007.
A facility of the New York Stock Exchange (NYSE), NYSE MatchPoint is the world’s first centralized, exchange-neutral, non-displayed matching system that trades all securities listed on the major and regional stock exchanges in the U.S.It matches aggregated orders at predetermined sessions throughout regular and after hours of the Exchange.
“RealTick is one of the world’s leading broker-neutral trading platforms, so it’s a great fit for our exchange-neutral trading model,” notes James G. Ross, vice president, NYSE MatchPoint. “We expect RealTick’s considerable user base will contribute a substantial amount of volume--helping MatchPoint deliver our value proposition of deep block liquidity with minimal market impact.”
“Many of our clients are finding it increasingly difficult to locate and quickly extract liquidity anonymously--especially when they are looking to match portfolios,” comments Stuart Breslow, CEO and CIO for Townsend Analytics. “By adding MatchPoint as a direct destination, we’re giving them an excellent opportunity to match and to use RealTick’s superior order execution capabilities to control the trade,” he adds.
Townsend’s RealTick EMS aggregates multiple brokers, destinations and products onto a single-screen format for ease of use and faster electronic order routing.Clients include institutional and proprietary trading desks, hedge funds, CTAs, FCMs, buy-side institutions and professional traders in 94 countries and territories around the world.
RealTick, created by Townsend Analytics, is the electronic trading industry’s premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.
*RealTick is a registered trademark of Townsend Analytics, Ltd.
About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services.Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers.For more information, visit www.taltrade.com.
About NYSE MatchPoint
NYSE MatchPoint is a portfolio-based, point-in-time electronic exchange facility that matches aggregated orders at predetermined times with no market impact. NYSE MatchPoint is designed to provide the optimal solution for portfolio and single order liquidity discovery by creating a centralized exchange-neutral matching environment. The matching facility is based on a sophisticated algorithmic model that will maximize the NYSE Euronext global infrastructure and liquidity relationships. Complete control of order information and execution remains in the hands of users.
for Townsend Analytics
Managing Director, Communications
NYSE Regulation + NYSE Euronext