Wells Fargo’s affiliate, First Clearing, has selected NYSE Euronext’s global commercial technology unit, NYSE Technologies, to install its Hosted Transaction Hub. NYSE Technologies will merge the customized infrastructure alongside its core Secure Financial Transactions Infrastructure connectivity service to provide First Clearing enhanced routing capabilities, significant new risk management functionality and reduced overall operating costs.
The service, which is scheduled to be fully operational in the first quarter of 2011, will allow customers to retain control of their order management, connection status and specific risk filters through a customized web-based interface. The service provides a hosted order transaction platform and market data infrastructure with sub-millisecond access to nearly 50 execution venues in the U.S.
Click here for the release from NYSE Euronext.