According to a news release, FAN is available to buy-side and sell-side firms through Execution Management System(EMS), EdgeTrade’s front-end platform for anonymous single stock and basket equity trading.
EdgeTrade said that FAN enables traders to “Find and Nail” the best execution in a marketplace prompted by Reg NMS, a series of initiatives adopted last year by the Securities and Exchange Commission to modernize and strengthen the national market system for equity securities.
Starting in 2007, Reg NMS will require brokerage firms to send orders to destinations with an electronic quote that is the best in the market. Using FAN, a trader can have an order sent to major destinations of liquidity, public and private, simultaneously. FAN pinpoints trading opportunities by tracking available liquidity, and continues this process until the trade is completed, the announcement said.
More information is at www.EdgeTrade.com .