New York-based SDS Financial Technologies says UK futures broker Man Financial is using its alternative trading system to deliver fixed income trading services in the US.
The broker implemented the ATS to launch its Man E-Finance fixed income trading platform to hedge fund clients in the US.
The platform is initially being used for e-trading of US Treasury repurchase agreements (Repo), although other fixed income products will be added to the system in the future.
SDS says its ATS provides Man with the technology, functionality and network connectivity required to implement a online marketplace. The system supports a broad range of standard industry FIX interfaces for order routing and price dissemination. These interfaces will clients with a quick and cheap connection for trading.
Commenting on the implementation, Peter Maragos, managing director of SDS, says the ATS is designed to help clients get business ideas to market quicker and the Man E-Finance platform shows how the marketplace technology and distribution system is designed to meet unique requirements.
The Man e-trading platoform was implemented in less than six weeks, says SDS, and is currently available to 20 clients. The broker plans to develop a European version of the system for release in late 2007.