CHICAGO and LONDON, April 24 /PRNewswire/ --
-- Brokers, Buy-Side Firms and Institutional Traders Enjoy Advanced Execution Management, Complete Anonymity and Lower Costs of London Stock Exchange Market Access Through TAL's Service Bureau
Townsend Analytics ( http://www.taltrade.com ) and the London Stock Exchange ( http://www.londonstockexchange.com ) are now providing Exchange members with direct market access, and non-member brokers, institutional and proprietary traders with member-sponsored direct market access to the LSE via TAL's RealTick(R) trading platform.
LSE offers trading in UK equities and global depositary receipts. TAL customers can see and trade from the full depth of book -- with access to all executable bids and offers at every price level -- for SETS, SETSmm and the International Order Book (IOB). The IOB is currently the world's largest international electronic order book, capturing over US $10.8 billon worth of liquidity every month.
TAL's turnkey service bureau solution effectively lowers the cost of access to the Exchange, as it hosts and maintains all trading and market data feed hardware and software plus Exchange connections. Traders benefit from fast market access, complete anonymity, and access to a complete suite of tools and services to mitigate risk and manage their trades, with minimum investment on their part. And by using RealTick, traders can easily employ a variety of advanced order types including conditional, iceberg and stops, as well as execute basket and algorithmic trades.
"This technical capability offers both the buy side and sell side more choice and independence when accessing the LSE markets and executing trades," comments Rustam Lam, Managing Director for TAL Europe. "While service bureau users either have to be LSE members or sponsored by Exchange member-brokers, they can now execute trades either through their existing broker's order management and routing system or through the TAL direct connection," he explains.
"Furthermore, in the wake of ongoing regulatory requirements for unbundling and best execution, we expect demand for additional flexibility and choice within the market -- especially from remote members, as well as brokers and institutions wanting to access the Exchange market without having to build and maintain a robust technical architecture themselves," Lam adds.
David Lester, Chief Information Officer for the London Stock Exchange, states, "We are delighted to welcome Townsend Analytics as an accredited Vendor Access Network provider of trading connectivity to the Exchange. This agreement extends the scope of connectivity options for brokers and we look forward to working with Townsend Analytics to promote access to our markets," he adds.
Notes to press:
The International Order Book (IOB) is the London Stock Exchange's trading service for trading international securities in the form of Depositary Receipts (DRs). There are over 265 securities traded on the IOB. These securities are exclusively DRs, traded in US dollars and issued by a depositary bank. The underlying issuers of depositary receipts are diverse and typically large companies with a global outlook from regions such as Central and Eastern Europe, Asia and the Middle East.
SETS is the London Stock Exchange's trading service for UK blue chip securities. SETS is an electronic order book that can execute hundreds of trades a second. Securities traded on SETS include all the FTSE 100 constituents reserves, the most liquid FTSE 250 securities along with some other securities.
SETSmm is the London Stock Exchange's trading service for Mid Cap, most liquid Small Cap and FTSE UK AIM50 securities -- currently 700 securities in total. SETSmm appeals to market users who want to trade electronically, as well as those customers who use the market making system.
RealTick delivers a wide range of North American and European market data and trading capability across equity, futures, options, fixed income, and foreign exchange markets, unlimited depth of book, advanced research and analytical tools, risk and account management tools, as well as direct trading connectivity to major pools of liquidity such as listed exchanges in the U.S. and Europe, ECNs and broker specific destinations.
About RealTick(R)
RealTick, created by Townsend Analytics, is the electronic trading industry's premier direct-access research and trading software. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick's advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit http://www.realtick.com .
--- RealTick is a registered trademark of Townsend Analytics
About Townsend Analytics (TAL)
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows(R); the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation's first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers Holdings Inc. (NYSE: LEH). For more information, visit http://www.taltrade.com .
Web site: http://www.taltrade.com
http://www.realtick.com
http://www.londonstockexchange.com
U.S., Mike Felix, Director of Marketing, Townsend Analytics, +1-312-442-8605, mfelix@taltrade.com; or Anne Aldrich for Townsend Analytics, +1-312-787-1642, ABM@covad.net; or Europe, Rustam Lam, Managing Director, TAL Europe, +44(0)20-7877-0091, rlam@taltrade.com
