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Back Office Clearing Direct? Firm Brings Clearers Through the Front Door

Traders Magazine, April 2002

Brian O'Connell

Have clearing brokers finally discovered the Holy Grail? A private label, front-end software package is offered as solving their direct access execution problems. The provider, Trade Route Direct, claims its product is a necessity. "A real-time front and backend risk management system is no operational luxury," said John Paul DeVito, business development officer at Trade Route Direct, a small New York-based firm employing about 15 people, including three programmers, two network engineers and three support staff. "Direct Access is a necessity in clearing," DeVito added.

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