Alternative trading system provider PDQ says its equities ATS will now be available via Instinet's Newport 3 platform, as part of a new agreement.
PDQ ATS aggregates unique liquidity by utilizing advanced technology that focuses on holistic execution, rather than solely on speed. It provides the equity trading marketplace with various on-demand auction products developed to offer a more effective market structure for all participants.
It will now be available to users of Newport 3, Instinet's global, multi-asset execution management system (EMS), which traders use to build complex order strategies incorporating the distinctive competencies of leading brokers' algorithmic suites and other global liquidity sources. Additionally, Newport allows clients to source liquidity across hundreds of destinations in Instinet’s growing multi-asset global network.
“Our integration with Newport represents another achievement for PDQ ATS, and we are very pleased that Instinet’s diverse client base will now have the option to access our innovative trading solutions," Keith Ross, CEO of PDQ Enterprises, says. "PDQ ATS has experienced significant growth over the past year, and now executes a combined about $100 million in shares per day through both its auction-based matching engine and custom router. We believe the connection to Newport will allow us to increase our market share even further as traders recognize PDQ ATS’s unique advantages.”
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