UNX Connects to NASDAQ CAES For Liquid and Anonymous Trading in Listed Stocks.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--Dec. 15, 2003 UNX UNX Universal Network Exchange , Inc., the market structure experts, announced today that it has connected to CAES CAES See computer-assisted execution system (CAES). (SM), the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on (R) Computer Assisted Execution System(SM). Using UNX's proprietary smart order routing algorithms to access CAES offers buy-side institutional investors and hedge funds a powerful solution for executing Listed stocks Listed stocks Stocks that are traded on an exchange. in a truly electronic environment, with speed of execution and anonymous trading Anonymous Trading Visible bids and offers on the market without the identity of the bidder and seller being revealed. Notes: Anonymous trades allow the high profile investors to execute transactions without the scrutiny and speculation of the market. . CAES represents an electronic linkage to the NASDAQ InterMarket(SM) and is the largest source of Listed liquidity outside the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. with approximately 12 percent of Listed average daily trade volume. CAES displays firm quotes that can be automatically executed. In addition, when utilizing UNX's broker-neutral tactics engine, UNX clients can post liquidity after a sweep to any one of several final destinations ranging from ECNs to exchanges. "UNX is driven to help institutional traders lower market impact and find best execution," said Randy Abernethy, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of UNX. "Our CAES connectivity is a necessary and natural extension of our proven ability to consolidate access to the fragmented US equities market, and provide the speed, anonymity and trading efficiency that are hallmarks of our electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. capability." "The CAES connectivity is part of our ongoing, client-focused strategy to develop the most advanced liquidity discovery and trading tools for institutional investors," said Jeff Brown, Director of Product Development at UNX. "We constantly seek out new opportunities to extract quality executions across the market." As with all orders transacted through the UNX platform, clients can view the location of each execution in real time, including trades executed through CAES, on the UNX execution log, a proprietary product feature that displays trade transparency and client activity. About UNX UNX is an institutional agency brokerage providing advanced electronic trading solutions and premium services. With flexible connectivity options and core platform technology that consolidates market access and provides a true depth-of-book view of the US equities market, UNX enables buy-side investors to minimize market impact, reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and manage today's fragmented liquidity to their advantage. UNX meets the demanding requirements of institutional trading through innovative, reliable technology to streamline trade operations and help sophisticated traders find best execution within a completely anonymous environment. The company's commitment to trading efficiency extends to its multiple value-added services, including advanced electronic trading capabilities, commission management tools and an agency trade desk. For more information, please visit www.unx.com. Member NASD/SIPC. UNX: Market Structure Experts Market conditions and system performance may delay system access, real-time data and trade execution. |
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