On Point Executions Selects SDS Financial Technologies to Deliver Multi-Asset Trade Execution Platform
On Point Executions has selected SDS Trader to launch its new On Point Trader electronic execution platform. On Point Trader is built on SDS Trader technology, the next generation direct market access trading platform, and is a hybrid system platform with a smart order router component and compliant execution platform that will provide On Point with the technology they need to become a full-service provider. On Point Trader will deliver enhanced electronic brokerage services to institutions and hedge funds. This electronic execution platform handles both options and equities and provides streamlined order flow to the exchanges for faster turn-around times. On Point Trader is a cost-effective way for large institutions to handle all their order flow, have seamless routing, be completely compliant with the exchanges and provide their customers with a competitive edge.
New York, NY (PRWEB) September 6, 2006 -- SDS Financial Technologies, a leading provider of powerful, comprehensive trading and electronic marketplace solutions for institutions, exchanges and hedge funds, today announced that On Point Executions LLC, an agency-only broker has selected SDS Trader to launch its new On Point Trader electronic execution platform. This platform handles both options and equities and provides streamlined order flow to the exchanges, faster turn-around times and a competitive edge for On Point’s clients.
On Point Trader is a hybrid system platform with a smart order router component and compliant execution platform that will provide On Point with the technology they need to become a full-service provider. Built on SDS Trader technology, the next generation direct market access trading platform, On Point Trader is a cost-effective way for large institutions to handle all their order flow, have seamless routing, be completely compliant with the exchanges and provide a way for them to get their workload off of their desks. On Point Trader offers the enhanced capability of accepting all order types, no matter what the size, and electronically routes the order flow supported by the respective markets. In the past, clients would have to break up order flow, but now clients can route all order flow directly through On Point Trader and receive high quality executions.
Cost, Speed and Compliance
A key need for many On Point customers is liquidity on order flow. On Point Trader has the functionality to sweep the markets and seek out liquidity that is not available on the exchanges with an average turn around time of less than one second. In the past, if On Point had to sweep the markets they would use an additional piece of software, while incurring costs that were passed on to the client. Now, with smart order routing On Point can sweep the markets and pass the savings on to their clients.
When dealing with options the amount you can grab manually is minimal. Now with On Point Trader, 95% of the available opportunities can come through the platform that clients had to previously route other ways.
“Whatever system my customers were using, the costs incurred by using those other systems versus using On Point Trader will be drastically reduced,” says Paul Carrozzo, co-principal at On Point. “On Point Trader will be competitively priced and offer a complete compliance solution.”
Relevant Metrics – Just What the Trader Ordered
One of the key attributes of On Point Trader is that it will be the first order management system that has the functionality to provide metrics to validate the quality of execution. At the end of the month, On Point will provide its customers with a metrics report that will detail exactly what On Point executed for them that specific month.
“Defining the execution metric for a trader is an important piece of information that will demonstrate to their clients exactly how well they are executing their orders. It’s a great selling feature for our clients and an excellent value-added service that we can provide to the industry.”
On Point plans to route all orders electronically, but any order that is not handled electronically will be sent down to the On Point desk to seek liquidity on the floor. In the future, On Point plans to work with SDS Financial Technologies and actively develop the On Point Trader application so it can be tailored to meet its client’s specific needs and support their different trading styles to offer a customized trading solution in one system.
“We are excited to be offering our new On Point Trader application and we know that our system is built on the best backbone technology in the business, SDS Trader,” says Carrozzo. “On Point selected SDS Financial Technologies to provide us with the technology for our execution platform based on their reputation for integrity and commitment to their clients. SDS provided us with the best core technology that was innovative and adaptable to serve our client’s ever-changing needs. We are confident that we selected the best technology provider in the business.”
“SDS is pleased to partner with On Point to develop the On Point Trader application to enable them to have a high-quality electronic trading solution to help drive their client’s business,” says Peter Maragos, Managing Director of SDS Financial Technologies. “On Point’s customer’s will benefit from this powerful and flexible order management system and we are delighted to play a key role to assist in On Point’s growth in the market place.”
About On Point Executions
On Point Executions LLC (www.onpointx.com) is an agency-only broker servicing financial institutions, hedge funds and money management firms and was founded under the guiding principles of market integrity and trust. Institutional orders require special handling that must be addressed from the point of order acceptance. The market landscape has dramatically evolved. The advent of decimalization, the changing role of exchange specialists, and the proliferation of electronic markets have necessitated that brokers fulfill their fiduciary responsibilities in a dynamic environment with acumen and efficiency. On Point customers receive the benefits of both market structures. Our hybrid execution philosophy provides electronic anonymity along with a seasoned staff of experienced equity and options traders who can provide the human capital required in complex trades. We have developed strong relationships with our liquidity providing clientele, establishing a safe transfer of information, thereby minimizing market impact on larger size trades. Our "dark" liquidity providers are evaluated on a constant basis, to ensure market integrity.
About SDS Financial Technologies:
Founded in 1988, SDS Financial Technologies, Inc. (www.sdsft.com) is a New York- based, leading provider of powerful, comprehensive trading and electronic marketplace solutions for institutions, exchanges and hedge funds. With three business lines consisting of market data, trading technology and systems technology, SDS focuses on the latest trends and technologies that drive the global marketplace. The SDS development team specializes in large, real-time, mission-critical systems that keep their clients on the forefront of advanced market technology. SDS has two offices with data centers with headquarters in downtown Manhattan, as well as a world-class development center in Bangalore, India. The SDS development team specializes in large, real-time mission-critical systems. SDS clients include major stock and futures exchanges as well as some of the largest and most successful financial services companies in the world.
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