Alternative trading system Brut has implemented a FIX link to Advent Software’s Moxy trade order management system.
The link was developed in conjunction with SunGard Data Systems, a Brut owner and partner. Through SunGard’s Transaction Network (STN), Moxy users can now access Brut as an execution venue and participate in the company's sponsorship programme.
The programme allows buy-side clients to trade electronically via Brut, repatriate a portion of the commission dollars to a sponsoring broker of their choice, and retain value-added brokerage services.
Brian Hyndman, president of Brut, says: “By linking with STN and Moxy, we are able to provide our customers with a leading order management capability and straight-through processing, coupled with the benefits of our liquidity and sponsorship programme.”
Brut recently partnered with Macgregor, Bridge Trading and FlexTrade to increase the access and integration of the Brut system.