OMS and Smart Order Routing Deliver Best Execution
Mixit Inc. a leader in advanced trading technology, and Selero, Inc., a leading provider of trade execution systems, announced today that Mixit has a certified connection to Selero's Reg NMS-Compliant Smart Order Routing (SOR) and Direct Market Access (DMA) solutions. These proven low latency order routing solutions are available today for both new and existing Mixit customers.
Mixit decided to build this connection in response to the escalating costs of trade execution caused by Reg NMS. In particular, broker dealers who decided to delegate compliance to the protected markets have seen their fees increase much more than they expected and in some cases as much as 50% above pre-Reg NMS levels. By offering Selero Order Routing to their customers, Mixit is offering them a way to quickly and easily adjust course, lower their costs, and deliver best execution to their customers using execution strategies designed expressly for the Reg NMS world.
"Selero's Smart Order Routing offers our customers a chance to increase their control over trade execution, and the execution services available from Selero's partner Nunami Services LLC allows them to fill any holes they may have in their exchange memberships," said Walter Fitzgerald, CEO of Mixit.
"Mixit's clients picked an industry leading OMS," said Fred Horn, CEO of Selero. "Selero is pleased to extend that OMS with the execution strategies traders need to provide best execution to their customers in today's environment."
About Selero, Inc.
Selero, Inc. provides low latency, highly automated, adaptable solutions for trade execution in the securities industry. The Company offers an order routing network; Regulation NMS ("Reg NMS") compliant smart order routing ("SOR"); a trade execution system for market makers, internalization traders, and specialists; and integration software. In addition, it makes execution services available through its partner Nunami Services LLC, member FINRA. change in response to real-time market dynamics, while also delivering superior execution. The Company's customers span the entire trade execution supply chain, including hedge funds, asset managers, broker dealers, exchanges, ECNs, dark pools, and regulators. To learn more about the Company visit http://www.selero.com/.
About Mixit Inc.
Mixit is the leading independent provider of advanced multi-asset trading technology. Mixit also offers managed FIX based connectivity services to the financial industry. Our integrated suite of products allows your firm to trade and communicate with clients efficiently and in the most anonymous manner. Our expertise, advanced technology, neutrality, and commitment to the highest level of service provides the foundation for our customers business to prosper.
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