US-based asset management firms Everett Capital Management and Bradley & Company have implemented the Catalyst execution management system (EMS) from trading technology provider and agency broker UNX for their equities trading activities.
As an alternative asset manager that trades through multiple brokers globally, Everrett Capital said it chose Catalyst for its open architecture and broker neutrality. The firm plans to use the Catalyst software development kit to create a custom plug-in for portfolio calculations; it will also access other plug-ins and services available in the Catalyst marketplace.
“Now we can route to any broker’s algos and any DMA destination for all our US and international equity trading using just one platform,” said Everett Capital founder Todd Hurlbut. “Having recently signed up for behavioural analytics from Titan Trading, we’re quite pleased with the ease and speed with which we can integrate other providers’ content and services into our trading desk.”
UNX CEO Thomas Kim added that UNX aimed to build a “global ecosystem” of market participants able to access any trading technology from any broker, vendor or exchange from anywhere in the world. “We believe the extension of our software development kit to the community to create custom plug-ins will drive innovation and ignite competition in the financial markets- just as open platforms have done for the smart phone industry,” said Kim.
NYSE Technologies, the technology arm of exchange group NYSE Euronext, has stated that it will distribute Catalyst globally as the framework for access to NYSE’s trading and data services. UNX already integrates algorithms into Catalyst from firms including Credit Suisse, Fidelity Capital Markets, Goldman Sachs, Knight Capital and UBS.