In preparation for the January 22nd launch of NYSE MatchPoint, Portware announced it has integrated with the portfolio-based point-in-time electronic trading facility. Portware's buy- and sell-side clients will have full access to the centralized matching environment."One of the things that is important to our connectivity strategy is that the vendors compliment our portfolio-based trading approach," says Jim Ross, vice president of NYSE MatchPoint. "NYSE MatchPoint will be an execution destination available in Portware. Customers that are members will have access and those that are not members can leverage a sponsorship relationship with a member to gain access."
He adds that the Portware announcement is not a one off and other announcements are forthcoming, particularly from other trading solution and OMS vendors, as well as direct market access providers.
Ross says that NYSE Euronext is in the process of merging its common customer gateway, which will serve as a single pipe into the various functionalities and capabilities across the environment. "It heavily leverages the FIX gateway established within the Arca environment," says Ross. "This limits the impact on the end user to connect, it's easier for in house FIX developers or third-party providers to connect."
Ross says the internal matching capability available to NYSE MatchPoint clients will be a key benefit to users. He explains that firms that trade baskets and also have proprietary desks that commit capital can buy and sell within the basket and look for internal crosses before that flow interacts with the rest of the liquidity pool.