The BRUT ECN, L.L.C., has beefed up its electronic order execution services for institutional customers by completing a FIX link to Macgregor, which makes trade order management systems for the global buy-side community.
Brian Hyndman, president of BRUT, a Nasdaq ATS that is owned and supported by 26 Wall Street firms, says the arrangement gives "joint institutional clients access to the benefits of BRUT's trading system and unique sponsorship program."
Under the deal, BRUT will provide a FIX link into Macgregor Extended OMSs, the Macgregor Financial Trading Platform (MFTP) and Predator. The arrangement provides buy-side clients with an electronic solution incorporating trade execution and order management functionality.
The deal follows on the heels of the creation of The BRUT Workstation, designed for institutional and professional traders, and is the "next phase in our business strategy," says Richard Schenkman, CEO of The BRUT ECN.
The Workstation runs on Windows 2000 and Windows NT. It's an "intuitive" tool that facilitates the electronic trade execution of both Nasdaq and listed securities.
It includes a variety of time-saving functions and trading shortcuts, including a quick-order entry comment that allows trading without taking your hands off the keyboard.
The system provides an aggregated market view so that traders can highlight and execute trades across multiple price points. A dedicated help desk is available for support. For more information see www.ebrut.com; 212-952-0280.