OES MarketGroup Shatters U.S. Volume Record
OES MarketGroup, the leading independent provider of routing and linkage services to the securities industry, said today that it handled more than 1 billion total shares on September 18th, and 1 million orders, setting a one–day firm record.
"While recent market volatility has impacted and increased volume across the Street," said David Scheckel, president of the OES MarketGroup, "we were pleased to pick up a disproportionately large piece of the increase in the U.S. We are excited about the growth we´ve seen in recent months in our MarketAxis® smart routing and Dark Pool Explorer suite of products, particularly as we launch our pan–European routing and linkage platform in Europe."
OES announced plans in August to introduce and implement a pan–European routing platform connecting major trading centers in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the U.K. through a routing and linkage system that includes equities and derivatives.
"By implementing our ultra–fast, neutral and highly scalable technology platform, OES MarketGroup´s pan–European offering has been designed to bring a new standard for routing and cross–border trading to the European equity and derivatives markets," he said.
OES also said that its Bundled IOI Communicator (BIICSM), which consolidates indications of interest (IOIs) from leading public dark pools and other liquidity venues into bundled trading indications, has received what Mr. Scheckel called "wide commercial acceptance from broker–dealers, exchanges and other market venues, as well as very substantial interest from a number of leading market data vendors.
"Our record volume is further testament that products and services from OES are providing our growing international customer base with greater liquidity access, lower execution costs, increased anonymity and potential price improvement," Mr. Scheckel added.
About OES MarketGroup
Order Execution Services Holdings, Inc. (OES), through its wholly–owned technology and broker–dealer subsidiaries, provides seamless electronic market connectivity, liquidity access and rapid executions by linking broker–dealers, trading systems, exchanges and market centers. As an innovative securities industry leader, OES specializes in smart order routing, Reg NMS and MiFID compliance tools, sponsored market access, agency execution and private inter–market linkages. Closely–held, OES is headquartered in Princeton with offices in New York, Newark, Los Angeles, London, Zurich and Luxembourg. For more information, visit www.tradeoes.com.
This press release contains forward–looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward–looking statement.