New UNX platform targets single stock and portfolio trading

UNX, a California-based trading technology company, has unveiled a new version of Catalyst, its flagship execution management system, and appointed Thomas Kim as its new CEO.
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UNX, a California-based trading technology company, has unveiled a new version of Catalyst, its flagship execution management system (EMS), and appointed Thomas Kim as its new CEO.

The Catalyst EMS is built on a .NET delivery platform which allows customers that use the .NET Microsoft coding language in their trading infrastructure to plug specific trading functionality into Catalyst. For example, users can create ticket windows, stock viewing windows, imbalances and sector breakdowns using the .NET coding language and import them into Catalyst.

According to Brian Spengemann, director of sales and marketing, UNX, Catalyst’s open architecture will help users to tailor the system to their individual workflows.

“We created a system that is equally geared towards portfolio and single stock trading. We are not overlaying a single stock system with portfolio analytics nor do we try to retrofit single stock functionality on a portfolio system,” Spengemann told “Catalyst can be extended via plug-ins to accommodate all types of workflows. “

The .NET architecture also allows brokers to adjust their trading tools on the EMS without having to wait for upgrades or intervention from UNX.

“Brokers have access to the application processing interface in Catalyst’s algorithmic ticket window, and therefore do not need to learn a proprietary coding language,” added Spengemann. “The open architecture underscores our broker-neutral approach, as we are not standing between the client and the broker.”

To support the development of Catalyst, UNX has secured another round of funding from investors including Goldman Sachs, UBS and private equity firm Vernon & Park Capital.

“The electronic trading marketplace is undergoing material transformation that demands new technologies that can keep pace with the rapid speed of market evolution,” said Steve Brodsky, managing director of Vernon & Park Capital. “We are extremely enthusiastic about Catalyst, as it aims to redefine workflow between the buy-side and the sell-side in an open and cooperative manner.”

Furthermore, UNX has appointed Thomas Kim, an electronic trading veteran, as its new CEO. Kim recently served as head of the Townsend Analytics trading services business, providers of the RealTick EMS. He was also COO at fellow EMS provider TradingScreen.

“The US equity markets have undergone significant changes in the last 18 months, which has created tremendous opportunities for an open and flexible technology trading solution such as the Catalyst EMS,” commented Kim. “The dynamic nature of our technology means that UNX can provide nimble, customisable and meaningful solutions that will change the global EMS landscape.”