Business Need

Systems used by NASDAQ Market Makers are undergoing constant change due to various reasons. Regulatory environment keeps changing as new rules receive approvals from Securities Exchange Commission (SEC). Over the last few years, significant changes such as Limit Order protection (a.k.a. Manning Rule), Order Audit Trail Interface (OATS), Display Quote and Best Execution Obligation have been witness ed in the NASDAQ Market Making environment.

Decimalization of securities prices and introduction of several new market data feeds have made it imperative that market makers constantly change their systems in order to comply with these changes. In addition, competitive pressures bring in other changes related to price and liquidity discovery. In-house changes to improve the profitability and capacicity utilization to handle tremendous surges in quote and order volume require constant changes to a system that just can not go down.

Avebury Logic Can Help

Avebury Logic has worked extensively with Schwab Capital Markets, LP, a major market maker on NASDAQ to enhance MASTERS, their proprietary trading system for all these requirements. By performing analysis, design and development of various components of MASTERS, Avebury Logic has helped SCMLP in maintaining the edge in the competitive NASDAQ world. By testing these changes in a simulated environment at its Pune facility, Avebury Logic has been able to do this at a reduced cost for the client.

We can do the same for you!

Technical Features

• Fault Tolerant
• Distributed Unix Architecture
• FIX/CMS Compliant
• Order, Trade, Position Keeping
• Integrated Quote Management
• Compliant with regulatory requirements such as ACT Reporting, Limit Order Protec tion,Best Execution, Limit Order Quote Display, OATS, Trade Or Move
• Sun Solaris, SCO Open Server, Window\
• C/C++/Java
• Sybase Relational Database Management System
• PresenterGUI Development Tool