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SpeedRoute announced today that it has launched an electronic broker-dealer offering independent direct market access, smart order routing and risk management services to broker dealers, exchanges and other market participants.
"Low-cost access to comprehensive liquidity - both on- and off-exchange - is mission critical, and SpeedRoute provides its customers with an innovative, high-quality and low-cost way to reach it," said Joe Cammarata, president of SpeedRoute and founder of Sonic Trading, a leading edge brokerage and technology firm acquired by BNY ConvergEx in 2004.
Mr. Cammarata recently completed a series of acquisitions of brokerage and technology firms and has consolidated operations under SpeedRoute to provide:
- a single access point to help customers to achieve best execution at a reduced cost;
- an integrated trade execution platform offering market access, risk management, clearing and compliance services to help customers increase revenues, improve processing efficiencies, manage risk and reduce overall trading costs, and
- Market access to all exchanges and leading dark pools through SpeedRoute’s high-speed, low-latency network for maximum liquidity exposure in both displayed and non-displayed markets in order to achieve higher fill rates for client orders.
"SpeedRoute has seamlessly integrated all major dark pools with our growing network of exchange and broker-dealer liquidity to provide our customers with access to the highest level of liquidity, enabling them to control costs while maintaining their overall competitiveness,” added Mr. Cammarata. “We’re excited about the opportunity to build SpeedRoute into a world class financial and technology services firm. The positive feedback we have received from our customers and the overall marketplace has been overwhelming.”
SpeedRoute’s high-speed, low-latency market gateways and network allows customers to access both on- and off-exchange liquidity through multiple Points of Presence (PoP) or by cross-connecting from within their own facility to SpeedRoute. SpeedRoute helps reduce costs by eliminating the need for individual telco connections to each marketplace or liquidity pool, while broadening market access and maintaining low latencies.
Mr. Cammarata has been an entrepreneur throughout his career, successfully building and growing financial technology companies. In 1998, he founded Sonic Trading and architected the system that would serve as its core product. Recognized for its speed, superior market data processing, and all-around reliability, Sonic was a pioneer in serving Institutional clients and Broker/Dealers before being acquired in 2004 by the Bank of New York. Mr. Cammarata served as Managing Director for BNY ConvergEx where he was responsible for its electronic trading business and instrumental in creating a number of trading products and services prior to leaving in 2009.
