Fox River Execution, an Illinois-based broker/dealer that provides algorithmic trading technology and execution solutions, has launched Fox Spotlight, a new exchange traded fund (ETF) trading platform that provides a system for real-time price and size discovery in the ETF market.
According to the Fox River Execution, Fox Spotlight calculates real-time limits to sweep and post in the ETF displayed market, while providing price and size discovery for all size trades via an advanced ETF trading system. Additionally, the platform enables authorized participants (APs), market makers and arbitrageurs to compete with each other, resulting in best execution and pricing in ETF transactions.
Ronald Santella, CEO of Fox River Execution, said: “With Fox Spotlight, traders can leverage insights into the true liquidity in ETFs to execute trades quickly and efficiently at an optimal price. We appreciate iShares’ ETF insights that helped us to bring Fox Spotlight to market.”
Leland Clemons, Principal of iShares Capital Markets Team, said: “As the largest ETF manager, we are often a consultant to traders and financial advisors on their ETF trades. The biggest issues include identifying liquidity and minimizing market impact. We were naturally excited to offer product expertise that would support Fox River’s efforts when they approached us about developing an electronic trading system specifically designed to help investors trade ETFs more effectively.”
