Friday, 29 April 2016
Last updated 4 hours ago
Nov 21 2008 | 1:00am ET
Prime brokerage and fund services firm NorthPoint Trading Partners has beefed up its trading platform with the addition of FIX Flyer’s Financial Trading Network. The FIX Flyer technology allows for seamless integration and connectivity to algorithmic trading destinations.
“The hedge funds and professional traders that we service need the very best in connectivity,” says Doug Nelson, CEO of NorthPoint. “The addition of FIX Flyer has added greater flexibility to our industry leading platform. Together, we deliver an extremely responsive experience for our clients.”
“We are delighted that NorthPoint understands that the marketplace has changed forever and securities firms of all sizes must provide more options for their automated trading clients,” says Brian Ross, CEO of FIX Flyer. “The best way to protect clients from expensive networks that are in the business of selling your connection over and over again is to take control by owning your community.”
According to FIX Flyer, other network connectivity providers, such as traditional FIX hubs, require their clients to give up the identities of their counterparties so they can sell more connectivity to competitors. This, in turn, minimizes the client’s chances for lowest execution costs associated with connectivity and ticket charges incurred with multiple brokers.
NorthPoint and FIX Flyer client Larry Christy of Trendvest Founders, a Virginia Beach hedge fund, said, “We have never found any other way to handle our automated trading programs as effectively, and the quality of support we receive is superb.”