UNX, Inc. Launches New Version 4.5 Trading Platform - 06/18/01
Burbank, Calif.- June 18, 2001 - UNX, Inc., a registered broker dealer, has launched new trading options, including features designed to enable arbitrage trading strategies, on its Version 4.5 trading system for professional investors. The new enhancements will be demonstrated at this week's Securities Industry Association Technology Management Conference and Exhibit in New York.
Arbitrage - a trading technique that seeks to lower risk and maximize returns by taking advantage of discrepancies in the market. - has become increasingly popular as arbitrage strategies have the potential to outperform in volatile markets. As part of its version 4.5 upgrades, UNX has added a dedicated "Arb Center" that lets investors track the real-time value of their customized strategies and execute trades in a matter of seconds (1). Traditionally, the execution of arbitrage strategies has required numerous software programs and has been the purview of the sell-side.
"In today's sideways market, money managers need to rely on market-neutral strategies, such as arbitrage, to produce returns," explained Randy Abernethy, CTO and co-founder, UNX. "With the Arb Center, UNX is putting the tools for arbitrage trading in the hands of the buyside - giving them the flexibility to adapt and execute their investment strategies based on the ever-changing market conditions."
Unlike other trading systems that require purchasing and installing software, UNX is fully Web-delivered and is completely platform independent (100% Navigator, Internet Explorer and XHTML compatible). Because UNX is an ASP-based platform, upgrades are available immediately to all customers with no additional cost.
The system enhancements give traders more power and control by providing more choices in setting up trades, helping to simplify account management and adding more account maintenance tools. Besides the Arb Center, new features include:
-Â Â Â Â Â Â Â Â Advanced limit order specifications for both basket trades and single stock trades
-Â Â Â Â Â Â Â Â Real-time order status upgrades (1)
-Â Â Â Â Â Â Â Â Integration with popular order management systems, for both uploading and transferring trading reports
-Â Â Â Â Â Â Â Â Enhanced preference setting capabilities, which can be used to help manage risk with limits based on symbols, principal and price
-Â Â Â Â Â Â Â Â Account history details and downloads in a variety of formats to allow users to reconcile with portfolio management systems and track performance
-Â Â Â Â Â Â Â Â Ability for DVP accounts to archive positions that are closed out elsewhere
-Â Â Â Â Â Â Â Â Additional basket details and account information
-Â Â Â Â Â Â Â Â New Web site navigation and Resources section for training materials
About the Securities Industry Association's (SIA) Technology Management Conference and Exhibit
The Technology Management Conference and Exhibit is the SIA's annual program for individuals who manage technology activities. For many years, the Exhibit has been the largest securities industry-specific exhibition of technology products and services available to securities firms. UNX will be exhibiting at Booth #: 1618 at the Hilton New York at 1335 Avenue of the Americas, between 53 and 54th Streets. The exhibit hall is open June 19 (noon to 6 p.m.), June 20 (9 a.m. to 6 p.m.) and June 21 (9 a.m. to noon).
UNX, Inc. is a registered broker dealer that provides an ASP-based trading system for institutional investors. The UNX trading platform allows professional investors to create, trade and track, in real time (1), unlimited numbers of NYSE, AMEX and NASDAQ stocks in unlimited numbers of baskets for their portfolios. UNX's patent-pending smart order router searches across electronic communications networks (ECNs), listed exchanges and major market centers in an effort to find the best combination of price and speed for each order. Average executions take place with less than 4 basis points of slippage from the National Best Bid or Offer (NBBO) (3). Additionally, market orders are executed in less than 40 seconds (1,2). UNX, the first Web-based basket trading firm, executed its first trade in October 1999.
UNX is a member of NASD/SIPC
(1)Â Â Â Â Â Â Â Â Market volatility and volume may delay system access and trade execution. Past performance is not indicative of future results.
(2)Â Â Â Â Â Â Â Â Average execution from the time the order is placed to the time an execution is recorded.
(3)Â Â Â Â Â Â Â Â Elkins/McSherry, L.L.C.; "Domestic Trading Cost Analysis" 1/3/00 to 12/5/2000. The study measured trade cost by comparing UNX executions to volume weighted average price of market executions. Past performance may not be indicative of future results.
Catherine Pajak for UNX, Burson-Marsteller
415/591-4004 or onsite at SIA 415/596-4004