UNX Implements TotalView and OpenView for Full Depth of NASDAQ Liquidity.Business Editors NEW YORK--(BUSINESS WIRE)--May 24, 2004 UNX UNX Universal Network Exchange , Inc., the market structure experts, announced today the availability of NASDAQ's TotalView(SM) and OpenView(SM) through the UNX FLEXStream(TM) market data system. This enhanced data offering furthers UNX's commitment to consolidate access to the fragmented US equities market. FLEXStream is a real-time, proprietary market data distribution system which streamlines multiple depth-of-book feeds sourced directly from major market centers and other data providers. UNX clients are able to identify and act upon strategic trading opportunities with a comprehensive view of Listed and OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). liquidity throughout the market. TotalView, NASDAQ's depth-of-book quote feed for NASDAQ-listed securities, and OpenView, NASDAQ's depth-of-book quote feed for NYSE- and AMEX-listed securities, provide all quotes and orders attributed to market participants as well as the total 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. interest. These feeds provide a richer, more detailed view of 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 liquidity hidden beneath standard NASDAQ Level II quotes. The additions of TotalView and OpenView are part of an ongoing strategic initiative for UNX's MetaBook(TM), a leading trading platform for both Listed and OTC securities. Other new features of MetaBook 2.1 include hot buttons for single-click order entry, savable trading tactics, VWAP VWAP The volume-weighted average price. benchmarks, and an enhanced trade allocation system. Utilizing both FLEXStream and MetaECN(TM) - UNX's tactics engine for intelligent order routing - on MetaBook, clients have access to one of the most powerful trading platforms in the industry. "Since our inception, UNX has focused on efficient trading solutions for institutional investors," 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. "Market fragmentation, while challenging, provides unique opportunities for well-equipped traders, and TotalView and OpenView are important tools to help our clients extract more value from the markets." "We're driven to resolve market structure complexities for our clients," added Jeff Brown
"NASDAQ is pleased that UNX has chosen to provide the premier TotalView and OpenView data to its customers," notes Adena Friedman, Executive Vice President of Strategy and Data Products at NASDAQ. "In doing so, UNX provides its clients with the maximum visibility into the quotes and orders driving NASDAQ trading in not only NASDAQ-listed stocks, but in NYSE- and AMEX- listed stocks Listed stocks Stocks that are traded on an exchange. as well." About UNX UNX is an institutionally focused agency brokerage providing advanced 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. 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 opportunities 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. |
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