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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.
