Trading technology firm Townsend Analytics has announced the successful expansion and activation of a new direct market access connection with the ISE Stock Exchange.
Prior to the expansion, Townsend’s RealTick software provided direct market access (DMA) to the ISE’s options exchange. Now, RealTick’s institutional buy-side clients and investors around the world will be able to submit both standard MidPoint Match orders and also displayed market orders to the stock exchange through RealTick’s DMA interface.
The ISE’s equity trading platform combines a fully displayed stock market with its MidPoint Match liquidity pool for trading equities anonymously at the midpoint price of the national best bid and offer.
As the ISE Stock Exchange continues to expand, we are excited to partner with Townsend Analytics to provide their clients with access to our Exchange. RealTick users will have access to a variety of ISE Stock Exchange order types that will enable them to benefit from the interaction between our non-displayed and displayed liquidity pools and to have the opportunity for price improvement, said Andrew Brenner, head of the ISE.