Tethys Technology, a software and trading systems vendor that focuses on high-frequency traders, has integrated its Execta execution management system into Credit Suisse’s Magic direct-market-access service.
Magic targets latency sensitive traders who require pre-trade risk controls. It provides these traders with high speed market access that complies with sponsored access rules, according to Mary Cogger, director of sales at Tethys.
"Credit Suisse’s Magic platform will enhance the quality of execution for our latency-sensitive clients by providing both lower latency for order messages and offering access to various exchange order types," Cogger said.
Tethys clients requested the integration, as they did not have a cost-effective means of complying with the sponsored access rules set to go into effect in July, she said.
Traders who use Execta and Magic will have access to all exchanges and their various order types.
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