FlexTrade Systems, a provider of multi-asset algorithmic execution management systems (EMS), has announced that its FlexTRADER EMS will be the first algorithmic trading platform to provide direct access to NYSE MatchPoint. Matchpoint is the New York Stock Exchange’s new, portfolio-based, electronic block trading facility, which will launch on 22 January 2008.
“With NYSE MatchPoint, our clients will be able to execute portfolio-based and single block trades through a fully-viable non-displayed environment that trades all securities listed on the major and regional stock exchanges in the US,” says Vijay Kedia, president and CEO of FlexTrade Systems. And since it is a neutral exchange facility, connectivity to it is an ideal complement to a non-broker EMS such as FlexTRADER.
“The execution management portfolio capability of FlexTRADER is a great fit with NYSE MatchPoint's trading model,” agrees James Ross, vice president, NYSE MatchPoint.
The first session match will occur after hours on 22 January at 16:45. Once fully operational, NYSE MatchPoint’s crossing engine will match aggregated orders at predetermined sessions throughout regular hours and after hours of the exchange. The intraday matching sessions will occur during regular hours at 10:00, 11:00, 12:00, 13:00, 14:00 and 15:00.