trading platform that provides a comprehensive system for competitive, 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, the world`s largest manager of ETFs, 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 as never before.
“With Fox Spotlight, traders can leverage insights into the true liquidity in ETFs to execute trades quickly and efficiently at an optimal price,” said Ronald A. Santella, CEO 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 advanced ETF trading system. Additionally, the platform enables authorized participants (APs), 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,” said Terry Ransford, Director of Trading & Technology, Northern Trust Securities, Inc. “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.” “As the largest ETF manager, we are often a consultant to traders and financial advisors on their ETF trades. The biggest issues include identifying liquidity and minimizing market impact,” remarked Leland Clemons, Principal of iShares Capital Markets Team. “We were naturally excited to offer product expertise that would support Fox River`s efforts when they approached us about developing an electronic trading system specifically designed to help investors trade ETFs more effectively.”
About Fox River Execution
Fox River Execution`s suite of execution products was developed to address the unique needs of the institutional trader. It blends the human logic of a professional trader with the precise mathematical formulas imbedded in Fox River`s proprietary models. Fox River was ranked #1 execution broker in 2007 and 2008 by Institutional Investor (conducted by research firm Elkins/McSherry). Fox River is headquartered in suburban Chicago with offices in New York and San Francisco. Fox River Execution Technology, LLC is a FINRA registered broker/dealer and a member of the SIPC. For more information, visit www.foxriver.com.
iShares is the global product leader in exchange traded funds with over 380 funds globally across equities, fixed income and commodities that trade on 16 exchanges worldwide. iShares customer base consists of the institutional segment
of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals. iShares is a business unit of Barclays Global Investors, one of the world’s largest asset managers and a leading global provider of investment management products and services with more than 2,900 institutional clients and US$1.7 trillion of assets under management as of 30 June 2009. BGI transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1979.