Trading technology supplier UNX will offer US broker Mismi’s trading strategies on its Catalyst execution management system (EMS), accessible across the UNX network.
The partnership will allow buy-side institutions to route orders directly to Mismi and access the broker's algorithmic strategies via UNX. These include Portfolio IS, an implementation shortfall strategy that adjusts trading behaviour according to real-time changes in portfolio and market conditions, as well as VWAP and participation algorithms.
Using Catalyst, Mismi will have direct control over the integration, customisation and deployment of the services and strategies it offers on the EMS.
“The problem with traditional EMS providers is that they take too long to onboard a new client or integrate additional trading products and services, all while charging significant IT fees,” commented UNX CEO Thomas Kim. “Our open technology requires substantially less IT support than legacy EMSs, saving clients both time and money.”
“We can tailor our offerings to specifically address the trading style and considerations of each client, as well as quickly respond to market structure changes with new and enhanced algorithms and smart order routing,” added Costis Maglaras, head of research for Mismi.
In addition to Mismi, UNX has recently integrated brokerage services from Credit Suisse Advanced Execution Services, Fidelity Capital Markets, Goldman Sachs Electronic Trading, INTL Trading, Knight and UBS into the Catalyst EMS.