Trading technology provider UNX has connected Girard Securities, Goldman Sachs Electronic Trading (GSET), Mizuho Securities USA, Rosenblatt Securities and UBS Investment Bank to its trading connectivity network.
The five brokers’ equity algorithms and electronic trading services will now be available to buy- and sell-side users of UNX’s Catalyst execution management system.
According to UNX, Catalyst’s open technology framework and software development kit (SDK) allows brokers and clients to directly control the integration and roll out of new services and strategies as they are being developed.
Using the SDK, non-UNX developers can add functionality without having to involve the UNX development staff and incur additional fees.
“GSET continues to enhance our algorithms to adapt to market conditions, so making sure the latest strategies, such as Port-X and IS,
are available to clients is a top priority,” said Rishi Nangalia, managing director and global head of business development at GSET, in a statement. “We recently joined the UNX broker network and have found that the speed and ease of deployment that Catalyst offers are a distinct advantage.”
Charlie Susi, head of Direct Execution, Americas for UBS, added, “Catalyst’s open-technology framework means that we can easily add functionality ourselves using its software development kit. This enhances our ability to deliver iterative, ever-increasing value, and rapidly customise algorithms tailored specifically to our clients’ workflow.”
In January, UNX made several enhancements to catalyst, which expanded both its list and single-stock trading capabilities and improved usability and workflow. New features included the ability to group and sort orders by broker, support for replacing algorithmic orders and an updated sector heat map.