January 14, 2009

Townsend Analytics announced the latest release of it RealTick execution management system (EMS), version 9.1.

The multi-asset, broker-neutral platform enhancements include customizable order forms for specific trading styles and strategies such as list trading, expanded multi-broker trading and a new Order Splitter function.

“During the last quarter we’ve been looking at how the overall marketplace has been changing or will be changing,” says Stuart Breslow, CEO and CIO of Townsend Analytics. “A few things were very clear and we saw that Wall Street is about to undergo a sea change.”

He adds that market changes signaled the reinforcement of the importance of the multi-broker trading model and therefore the ability for traders to reach their relevant brokers from a single desktop. “Funds are also looking to diversify their prime-broker relationships,” notes Breslow.

“This latest release is all about streamlining user workflow and making it easier to accommodate the global multi-prime relationship and multi-broker execution for a trader,” he says.

The new Order Splitter functionality in particular sends multiple orders to various destinations with a single click. Traders can customize how orders should be allocated to algorithms, dark pools and DMA routers.

Breslow says that clients were also interested in “us expanding our multi-asset list trading offering,” with many traders even using this functionality as a central consolidated blotter as well as for index re-balances.

“The end of day allocation process was also greatly simplified with better filtering, bundling and allocation placement,” he adds. Breslow explains that after a quiet release of the upgrade at the end of December, there are nearly 1,000 users already utilizing the latest version of RealTick.