Meet SONICTM from Pershing
What is Sonic?
Features:
■ Liquidity Management. W e can view marketplace liquidity and interact directly with other trading venues. Has the ability to post bids and offers to BTRD, ARCA Ex, INET, BRUT, SuperMontage, the New York Stock Exchange®, Inc. (NYSE®) via DOT, or any combination of the above.
■ Advanced Trading Tools. Uses sophisticated tools to support trading requirements such as: pegging, reserve, and discretion.
■ Flexibility. Aggregator functionality allows the choice between native electronic communication network (ECN) trading logic, and synthetic, customized algorithms within the Sonic platform. Native logic has smart routing built into each ECN.
It also maximizes exposure to the market center, while seeking out hidden liquidity in one market center. Synthetic logic has a neutral, unbiased, proprietary algorithm. It is fully represented in all ECNs, seeking out hidden liquidity sources in numerous ECNs.
■ Depth of Order Book. We can broaden your order book across market centers. Sonic provides access to direct market quotes and DOT capabilities, as well as an open book display. Sonic also provides access to the NYSE open book.
■ Algorithmic Trading. Automated trading strategies allows reduces market impact while improving performance versus industry-standard benchmarks. The strategies offered include volume weighted average pricing (VWAP), time weighted average pricing (TWAP), and time slicing.
Benefits To You:
■ Order Types and ECNs. Investors Capital, using Pershing’s Sonic, has the ability to capture hidden and reserve liquidity from various ECNs. It also provides innovative order-routing algorithms.
■ Neutral Marketplace. Unbiased routing seeks best execution across ECNs, Nasdaq Super Montage, ARCA Ex, as well as listed exchanges and market makers.
■ Choice and Anonymity. Enables the choice of how orders are represented in the market through one, any, or all of the ECNs and exchanges, while maintaining complete anonymity of your trade in the market.
■ Superior Routing. A proprietary algorithm continuously analyzes the markets. It also provides flexibility to implement trading strategies allowing us to route your orders to end venues to seek best execution.