Trading solutions provider Townsend Analytics has added NYSE MatchPoint, the New York Stock Exchange’s dark block-trading facility, as a destination on its RealTick execution management system.
The direct connection enables RealTick’s buy- and sell-side clients to match block and portfolio-based orders anonymously on NYSE MatchPoint. Traders can execute single block trades or buy and sell within a basket and look for internal matches before that flow interacts with the rest of the liquidity pool. They can also specify minimum-share requirements for stocks and apply net cash constraints to portfolios to manage their risk.
NYSE MatchPoint is a centralised, exchange-neutral, non-displayed matching system that trades all securities listed on the major and regional stock exchanges in the US. It matches aggregated orders at predetermined sessions throughout regular and after hours of the exchange.
“We expect RealTick’s considerable user base will contribute a substantial amount of volume, helping MatchPoint deliver our value proposition of deep block liquidity with minimal market impact,” said James G Ross, vice president, NYSE MatchPoint, in a statement.
Stuart Breslow, CEO and CIO for Townsend Analytics, added, “Many of our clients are finding it increasingly difficult to locate and quickly extract liquidity anonymously, especially when they are looking to match portfolios. By adding MatchPoint as a direct destination, we’re giving them an excellent opportunity to match and to use RealTick’s superior order execution capabilities to control the trade.”