JERSEY CITY, N.J., April 21, 2008 (PRIME NEWSWIRE) -- Direct Edge ECN Today Announced That Interactive Brokers Has Joined its Enhanced Liquidity Provider ("ELP") Program.
"More ELPs means our subscribers have the opportunity to interact with more dark liquidity, so we are pleased that Interactive Brokers has joined our network of ELPs," said Bryan Harkins, Head of Sales and Strategy at Direct Edge ECN. "Our ELP Program improves our customers' executions by providing additional liquidity, immediacy, and lower market impact."
"We became an ELP because of the additional liquidity we can access. We are committed to getting the best executions at the best price for the clients of Interactive Brokers, and Direct Edge's ELP Program helps us achieve that goal," said Steven Sanders, Senior Vice President, Marketing and Product Development, Interactive Brokers.
About Direct Edge's ELP Program
Direct Edge's pioneering ELP Program offers subscribers integrated access to multiple sources of displayed and dark liquidity. Historically, traders had to seek executions in either the displayed market or a single "dark pool." Direct Edge was the first displayed market center to offer a comprehensive solution. Direct Edge launched the ELP Program in the spring of 2006, years ahead of its competition, and now routinely executes ELP volume of over 40 million shares per day. The ELP Program has helped Direct Edge establish itself as a recognized leader and innovator in offering next-generation trading solutions.
About Direct Edge ECN
Direct Edge ECN offers the next generation of displayed markets. Through multiple platforms and unique order types, Direct Edge matches complementary forms of liquidity based on sensitivity to transaction cost, fill rate, fill speed, and contra-side sophistication while maintaining high execution quality and low latencies. Direct Edge is owned by a consortium that includes Knight Capital Group, Citadel Derivatives Group, and The Goldman Sachs Group. Direct Edge's average daily touched volume in March 2008 was over 613 million shares. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
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About Interactive Brokers
Interactive Brokers Group is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures and foreign exchange instruments as a member of more than 70 electronic exchanges and trading venues around the world. As a market maker, we provide liquidity at these marketplaces and, as a broker, we provide professional traders and investors with direct access to stocks, options, futures, forex and bonds from a single IB Universal Account(sm). Employing proprietary software on a global communications network, Interactive Brokers Group continuously integrates its software with a growing number of exchanges and trading venues into one automatically functioning, computerized platform that requires minimal human intervention.