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Fox River Execution launches ETF trading system

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Fox River Execution, a broker/dealer that provides algorithmic trading technology and execution solutions, has launched Fox Spotlight, an exchange-traded fund trading platform that prov

Fox River Execution, a broker/dealer that provides algorithmic trading technology and execution solutions, has launched Fox Spotlight, an exchange-traded fund trading platform that provides a system for real-time price and size discovery in the ETF market.

Employing proprietary trading technology pioneered by Fox River Execution, and in research collaboration with iShares, Fox Spotlight allows traders to access an accurate picture of real-time ETF liquidity and pricing.

Fox Spotlight is the first to display the liquidity in an ETF along with the liquidity in the ETF’s underlying securities, minimizing market impact for ETF trades of any size.

‘With Fox Spotlight, traders can leverage insights into the true liquidity in ETFs to execute trades quickly and efficiently at an optimal price,’ says Ronald A. Santella (pictured), chief executive of Fox River Execution. ‘We appreciate iShares’ ETF insights that helped us to bring Fox Spotlight to market.’

Fox Spotlight calculates dynamic, real-time limits to sweep and post in the ETF displayed market, while providing price and size discovery for all size trades via an ETF trading system. Additionally, the platform enables authorized participants, market makers and arbitrageurs to compete with each other, resulting in best execution and pricing in ETF transactions.

‘Fox Spotlight gives us the ability to make better-informed trading decisions,’ says Terry Ransford, director of trading and technology, Northern Trust Securities. ‘ETF trades previously considered too large for the market in relation to their average daily trading volume can now be executed with confidence, thanks to the total market impact view that Fox Spotlight offers.’

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