The following is from ISE...
NEW YORK, May 31, 2012 – The International Securities Exchange (ISE) today announced that order management functionality is now available in PrecISE Trade®, ISE’s innovative, front-end execution system. PrecISE users are now able to route orders to other PrecISE users for execution. Additionally, PrecISE offers a new “parent/child” feature, or the ability to stage larger orders and divide them into smaller orders to better control order management and execution.
Boris Ilyevsky, Managing Director of ISE’s options exchange, said, “Our latest PrecISE release represents a significant milestone for this product offering. PrecISE has moved beyond an execution-only interface with the introduction of these new order management capabilities. This is an important first step in our effort to deliver greater value and flexibility to users by enabling PrecISE to manage and support the entire lifecycle of an order.”
ISE currently offers a two month fee waiver for new users of PrecISE, a leading tool designed to meet the needs of sell-side institutional trading desks. This comprehensive, front-end execution system supports all exchange order types and functionality, including complex orders, tied-to-stock options orders, crossing orders, and sweep functionality to access other exchanges. PrecISE users have access to real-time market data as well as ISE’s Depth of Market Feed, the ISE Spread Book Feed and the ISE Implied Volatility and Greeks Feed. In addition, PrecISE offers risk management tools and flexible post-trade clearing and allocation functions.