Chicago, May 2, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, today announced the successful expansion and activation of its direct market access (DMA) connection with the ISE Stock Exchange.
RealTick’s institutional buy-side clients and investors around the world now have direct access to the enhanced functionality and trading flexibility offered by the ISE Stock Exchange. ISE’s equity trading platform combines a fully displayed stock market with its MidPoint Match™ liquidity pool for trading equities anonymously at the midpoint price of the National Best Bid and Offer (NBBO).
Through its order types, the ISE Stock Exchange provides an innovative way to integrate dark and displayed pools of liquidity to maximize execution quality. RealTick clients will be able to submit both standard MidPoint Match orders and also Displayed Market orders to the ISE Stock Exchange through RealTick’s DMA interface.
Andrew Brenner, head of the ISE Stock Exchange, stated, “As the ISE Stock Exchange continues to expand, we are excited to partner with Townsend Analytics to provide their clients with access to our Exchange. RealTick users will have access to a variety of ISE Stock Exchange order types that will enable them to benefit from the interaction between our non-displayed and displayed liquidity pools and to have the opportunity for price improvement.”
“We are pleased to be in a position to expand upon our existing relationship with ISE. They are a recognized innovator in the exchange space,” comments Townsend Analytics CEO Jeff Wecker. “As the equity and derivative markets continue to undergo explosive volume and product growth, our expansion with ISE represents a natural progression for us and our multi-routing and multi-asset trading capabilities.”
Prior to the expansion, RealTick provided DMA access to ISE’s options exchange and currently supports the following ISE functionality and options order types: Day Orders, Good-Til-Cancel (GTC) and Stop Orders.
About RealTick
RealTick, created by Townsend Analytics, is the electronic trading industry’s premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.
*RealTick is a registered trademark of Townsend Analytics, Ltd.
About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit www.taltrade.com.
Contacts:
Todd Swearingen
Townsend Analytics
(312) 442-8656
tswearingen@taltrade.com Anne Aldrich for Townsend Analytics
(312) 787-1642
ABM1@covad.net
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