Brokers team with vendors to expand algo reach
Trading technology providers MIXIT and UNX have both partnered with investment banks to offer clients a wider range of algorithmic trading strategies.
MIXIT, a provider of order management and execution management systems, has added pairs trading and delta hedge options capabilities from Credit Suisse to its algorithmic trading suite.
According to MIXIT, the new functionality will give clients access to more sophisticated trading strategies.
“Creating additional pairs and options trading functionality to our platform really gives us a competitive advantage when joined with a strong order execution partner such as Credit Suisse,” said Antonio Panos, executive vice president of MIXIT. Credit Suisse and MIXIT have been partners since 2005.
Meanwhile, UNX has signed a deal with UBS to allow users of its execution management system, UNX Catalyst, to trade using the bank's direct market access (DMA) and algorithms in Canada, Europe and South America.
Users of UNX Catalyst could already use UBS for electronic trading in the US markets, but will now have access to UBS's electronic trading capabilities into Mexico, where the bank recently launched DMA, and also Brazil.
“By making international trading via UBS available to our clients, they can tap the global firm's unparalleled footprint of exchange and alternative liquidity,” said Thomas Kim, CEO at UNX.
UNX has stated that it has further plans to integrate broker algorithms, portfolio trading and other electronic trading services into Catalyst in the near future.