Sterling
Trader Announces Certification With PDQ ATS
April 7, 2009
Sterling Trader, Inc. is pleased to
announce it has completed certification with PDQ ATS,
an innovative trading platform for equities (www.PDQATS.com
). The unique PDQ ATS process creates a competitive
electronic crowd, allowing algorithmic trading interest
to respond to Sterling’s client orders with speed
and price efficiency while maintaining full confidentiality
and anonymity of the client order. All algorithmic trading
interest residing at PDQ ATS aggressively competes for
your order flow by responding with contra side liquidity.
PDQ states that when a liquidity seeking
order from a Sterling client arrives at PDQ it is paused
for 1-20 milliseconds (ms) and a Request for Trade (RFT)
notification is sent simultaneously to all interested
algorithms resident at the PDQ facility. The RFT notification
is kept within PDQ to eliminate order information leakage
and all spawned order contra liquidity generated by
the algorithms within 20ms will be matched on a “first-to-respond-first-to-match”
basis at the PDQ ATS. Matched trades are printed to
the consolidated tape; unmatched orders are routed to
BATS or cancelled depending on order type.
For further information please contact:
Ed O’Malley – PDQ ATS – 224-521-2494
eomalley@pdqats.com
Jason Wallach – PDQ ATS –
212-343-9410 jwallach@pdqats.com
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