InfoReach Expands Global Trading Network; Gelber Group Selects OneTick Analytics System
January 11, 2010
InfoReach, a global provider of execution management technology, now provides access to foreign exchange liquidity from Thomson Reuters, ICAP's Electronic Broking Services (EBS) and J.P. Morgan.
The company said this week it also has introduced functionality that notifies traders in real-time whenever a trading destination in its FIX connectivity network becomes unavailable-regardless of whether an order or order amendment is in play.
"Our real-time alerting feature sets InfoReach apart from all other FIX routing networks, which inform traders of broker unavailability only at the time when an order is actually sent to such broker," states InfoReach CEO Allen Zaydlin. "So instead of sending a market-on-close basket, for example, just to find out that the broker is unavailable due to some connectivity issues, our alerts allow traders to redirect orders to an available broker well in advance."
Gelber Group Selects OneTick Analytics System
Gelber Group, a Chicago-based proprietary trading firm, said it plans to use OneMarketData's OneTick Database tick data management and analytics system.
Carl Mahler, head of applications development at Gelber Group, said his firm chose OneTick "due to its scalable architecture, intelligent compression, and ability to provide depth of book data and analytics. By leveraging OneTick Database, we can consolidate our data management and analysis to one centralized, high-performance platform."
OneTick Database collects and processes millions of ticks per second on a single CPU and archives billions of ticks per day globally, providing uniform access to all tick data, up to and including the latest tick. A multi-asset class solution, OneTick Database allows clients to leverage an easy-to-use graphical user interface to access all data including equities, fixed income, futures, FX and options, as well as full order book data.
Schwab Lowers Trade Commissions
The Charles Schwab Corporation last week announced reductions in online equity trade commissions designed to provide greater value for investors of all sizes, regardless of the frequency or size of their trades. Beginning January 19, Schwab retail investors will pay $8.95 per online trade in stocks or non-Schwab exchange traded funds. Schwab ETFs feature commission-free online trading through Schwab accounts. Formerly, investors who held less than $1 million in household assets at Schwab or who traded fewer than 120 times per year paid $12.95 per trade plus charges for trades larger than 1000 shares.
In addition, Schwab also announced new managed portfolios of exchange-traded funds available through a low cost fee-based portfolio advisory program. Schwab Managed Portfolios-ETFs are made up of diversified ETF holdings representing up to 20 asset classes. The Schwab Managed Portfolios-ETFs, which have investment minimums of $100,000, will be available to Schwab clients also beginning on January 19.
Equinix's Acquisition of Switch & Data Delayed
Data center operator Equinix's acquisition of Switch and Data Facilities Company has been postponed until the next quarter after antitrust regulator made a second request for additional information, according to a January 6 8-K filing with the Securities and Exchange Commission. Last October, Equinix it would acquire Switch & Data for $689 million in cash and stock.
Switch and Data has scheduled a special meeting of its stockholders, to be held on January 29, 2010, to vote on the merger.
