AthenaTrader, a licensable software product, is a 100% Broker Neutral Trading Platform designed to support global equities, futures, options, and foreign exchange. Within a highly adaptive GUI, different type of instruments and multiple currencies can be viewed concurrently in the same portfolio or blotter. This high performance, flexible platform is designed to support diverse trading requirements, from buy-side quantitative funds and hedge funds engaged in algorithmic and statistical-arbitrage to sell-side firms engaged in program, principal, agency, equity derivatives and proprietary trading. Designed from inception to support algorithmic trading, AthenaTrader goes beyond normal single-stock, basket/list and wave trading. It offers wide array of advanced order types and trading based on arbitrage or custom algorithms.

Apama provides a comprehensive platform for creation, testing, deployment and management of algorithmic trading applications. Unlike packaged "black box" algorithms, Apama enables both sell-side and buy-side firm to rapidly develop unique trading strategies, leveraging Apama's graphical development environment - an environment that puts creation of strategies in the hands of the trader. Apama offers unparallel execution performance with an architecture that delivers sub-millisecond responsiveness in deployments that can support thousands of unique strategies. Traders can view algorithmic strategies with a sophisticated, graphically intuitive dashboards, that can be tailored to specific requirments. Apama offers integration with a wide variety of market data sources, databases and messaging transports and provides backtesting support with real market data, using its Research Studio module.

Banc of America Securities' innovative Electronic Trading Services (ETS(TM)) platform provides institutional investors with automated access to diverse, leading-edge liquidity systems and venues. Whatever your trading objective, our electronic trading products can meet virtually any need, including single stock, block options, direct market access and program trading. ETS turns smart trading ideas into simple trading solutions that are easy to access and use.

BARX provides sophisticated, flexible algorithmic trading across multiple asset classes. You can use them to trade in Equities, Futures, Fixed Income and FX on the BARX platform, 3rd party EMS vendors and via FIX.

BNY ConvergEx Group provides an array of enhanced global algorithmic trading strategies that provide advanced, sophisticated tools to help traders improve performance. Our broad suite of algorithms offers traders more control over how their trades get done. Several unique functions, such as the "I would" feature, allow traders to do more to develop and express trading strategies at the beginning of the trading process. Other advanced, high-performance algorithms track market sensitivity, enabling the trader to closely monitor marketplace changes and nuances, dynamically optimize performance and minimize market impact.

E.A.S.T. is comprised of quantitative researchers, technologists and traders, all focused on providing an execution platform that allows users to implement complex trading strategies, minimize transaction costs and access multiple pools of liquidity while maintaining anonymity in the market.

Bloomberg Tradebook AlphaPro is a suite of algorithmic trading strategies that seeks to add alpha or value to every trade possible. We seek to leverage our style of value-added stealth trading, all of our trading tools (Reserve, Pegging, Discretion, Relative Pricing, etc.), our sophisticated routing (Bang) algorithms, our agnostic view of liquidity and our anonymous, unconflicted, unbiased pure agency execution model to minimize impact and seek out alpha with every trade. In short Bloomberg Tradebook AlphaPro doesn't just provide the trading desk with an "extra set of hands," it adds another "SmartTrader." Combined with our EMS platform, it enables the desk to seamlessly add-value to programs, rebalance orders and lists of stocks.

We provide custom programming services to users and providers of financial services worldwide. Our customers include Hedge funds, brokerages, market analysts, individual and institutional investors. Our services include the design and implementation of custom automated trading systems, integration of broker's API and FIX protocol implementation with various trading software and asset management using mechanical trading strategies.

Citigroup offers a global algorithmic trading platform to institutional clients. In addition, to benchmark defined trading strategies; Citigroup provides dynamic trading algorithms directly to our clients.

ClariFI®, a Standard & Poor's Capital IQ business, provides software and services focused exclusively on helping quantitative portfolio managers and researchers decrease the time it takes to research, test, and put into production their alpha generating strategies. ClariFI counts four of the top five largest investment managers in the world, hedge funds of all sizes, and proprietary trading desks at leading brokerage firms and banks as its clients. ClariFI's clients experience reduced operational risk, decreased time-to-market for their strategies, and a significant competitive advantage.

AES is Credit Suisse's sophisticated suite of algorithmic trading strategies, tools, and analytics for global securities trading.

Deutsche Bank's Autobahn Equity algorithms provide a sophisticated, flexible suite of global algorithmic execution options. Our unique conditional strategy parameters allow for advanced order management and increased control.

EdgeTrade is an independent, agency-only broker and developer of smart order execution strategies, benchmark and participation algorithms, and DMA tools. The company is recognized for its expertise in the microstructure of the market. EdgeTrade has more than 220 buy-side and sell-side clients in North America, Europe and the Far East. Besides facilitating anonymous, agency-only trading and best execution, clients turn to EdgeTrade for its quantitative services encompassing conflict-free collaboration on the development of trader customized algorithmic strategies.

ESP'S EARN Portal provides a central point of access to over 100 algorithms and advanced trading strategies from the leading sell-side brokerage firms. The EARN Portal is embedded in 23 Order Management (OMS) and Execution Management (EMS) Systems, and can also be accessed directly via the FIX Protocol. Executions via ESP's EARN Portal are aggregated and then delivered/allocated via ESP's Central Counterparty Clearing TM service, thereby reducing the total volume of trade tickets when utilizing multiple executing brokers for the same security.

EZX's iServer (Integration Server) plugs into a firms existing infrastructure. Our clients have used it to do Pairs, VWAP and various stat arb type trading. Can be used with any proprietary black box and includes tools for simulation and testing of automated trading systems.

At FlexTrade Systems, we maintain that having access to a sophisticated and integrated array of resources, including innovative and flexible trading technology, gives traders the edge to perform optimally on every trade and achieve best execution. We develop cutting edge functionality and workflows that support traders who want to lead and not follow, originate rather than copy, and optimize returns for their clients and firm without exception.

Take advantage of best execution when you utilize the sophisticated trading tools and algorithms available from Fidelity Capital Markets Services' electronic brokerage team.

Fidessa BlueBox is the only algorithmic trading system that is integrated with a full service Order Management System. BlueBox offers traders both a suite of industry acknowledged models (VWAP, TWAP, Arrival Price, % of Volume) and a comprehensive framework to design and deploy proprietary algorithms. Unlike traditional algorithmic engines, BlueBox allows traders to control and monitor their algorithmic orders from their existing order management screens. Traders can then quickly build confidence in their models, resulting in increased productivity and order flow. Traders can make instant adjustments to active slices and model parameters, allowing them to overlay their trading skill and take advantage of potential market opportunities as they arise.

4S.Everglades' is a platform for real-time alpha and execution trading strategy operation. It includes operational workflow, FIX connectivity, trading blotters with P&L and real time visibility into the strategy's decision making process.

Multi-product global trading strategies for single stock and portfolio level executions, supported by a suite of analytics.All strategies take advantage of the aggregated dark pools of liquidity via SIGMA X, available in REDIPlus.

HUBB Automated Trading Solutions offers the most dynamic black-box development solution to traders who depend on high performance direct-market access. From standard features like order entry and data retrieval, to the speed benefits of co-location and a character-delimited protocol, HUBB has redefined the technology behind the algorithmic trading.

INFOREACH TMS combines order entry, rule-based trading, order management and FIX connectivity in a single broker-neutral trading platform. Product capabilities include trading of various security types (Equities, Options, Futures, FX) as single instruments or baskets, order routing, pre and post-trade allocations, automation of execution algorithms, and real-time position monitoring. While the product offers a broad range of functionality, it can also be easily configured to deliver just a subset of required features. Implemented in Java and it can be deployed on a variety of operating systems.

Instinet's algorithms leverage the firm's core strengths, including global market access, upstairs liquidity and pure agency trading. All algorithmic strategies are available through our proprietary front ends, Instinet Trading Portal and Newport, as well as from third-party systems through FIX, and can be used in any market that supports incorporated order types.

ITG Algorithms are trading models that integrate ITG pre-trade analysis and post-trade measurements to generate executions aimed at reducing market impact, maximizing execution quality, and improving trading productivity and performance. ITG's comprehensive approach delivers all the productivity benefits of automation, but builds in the control needed to achieve best execution. ITG Algorithms offer access to rich liquidity pools, including POSIT, other ATSs, ECNs, and exchanges.

JPMorgan's Electronic Client Solutions team provides a comprehensive suite of electronic execution products to institutional clients, including direct market and algorithmic access, pre and post trade analytics as well as a variety of algorithmic trading tools and services.

LMX(tm) is Lehman Brothers' suite of model-driven order execution strategies operating in 19 countries. In addition to supporting a broad range of algorithms for different trading styles and objectives, we have developed a customization framework that enables us to rapidly deliver highly-tailored solutions to our clients.

Full suite of global electronic products encompassing high, low and no touch products

Electronic Trading Services US, EU, Asia Equities, Options, Futures

"Trading Meister" includes an algorithm engine and a customer interface, which enables efficient development of algorithms and screens. We provide all of the functions needed for an automatic trading system in a package, which allows you to concentrate on those operations that directly relate to your business, such as development of trading expertise and new algorithms. We also provide some template algorithms such as VWAP, TWAP, Arrival Price, Short Sell, and so on. New algorithms can be easily recorded by adding components and changing component combinations.

NEXAS, a suite of algorithmic trading solutions offered by NYFIX Transaction Services, provides traders with both customized and off the shelf trading strategies. NEXAS provides Broker/Dealers and Institutional Investors with an unprecedented combination of performance, neutrality and anonymity.

Orc's advanced algorithmic trading solution enables firms to create unique on-the-fly execution scenarios for capturing latest market opportunities and performing 100's of complex custom trading strategies, via native Orc connectivity to 100+ markets worldwide. Firms choose Orc Trading to instantly detect market opportunities and deploy low latency, 'under a millisecond', execution strategies.

New York City-based Pipeline Trading Systems LLC operates the Pipeline Alternative Trading System (ATS) that enables institutions and brokerage firms to quickly and efficiently trade blocks of NYSE - listed companies, NASDAQ stocks, ADRs, and Exchange Traded Funds (ETFs). Pipeline empowers firms to execute block trades in single executions. Pipeline maintains a hidden book of large, executable limit orders with strict price time priority. Pipeline facilitates interaction between traders, enabling all real buyers and sellers to find each other anonymously and get trades done while minimizing gaming.

Portware offers a centralized, multi-asset, global execution platform and algorithmic engine used to build, test and deploy proprietary and third-party trading strategies and algorithms. Users can access broker-supplied algorithms, out-of-box Portware algorithms or build their own from scratch. Coupled with an extensive feature set including tools for multiple trading styles, real-time TCA, risk management, reporting and compliance, Portware offers traders a complete electronic trading solution.

Rosenblatt Securities is an innovative agency-only execution firm providing clients with access to third-party, standard solutions and soon-to-be-released, in-house, second-generation algorithms that give the trader customized solutions and real-time interactivity. In addition, we advise clients on the appropriate type of algorithms to select consistent with their overall investment process through the application of our Rosenblatt Integrated Transaction Analytics (RITA) product.

RTD Tango is an algorithmic trading system which provides direct market access to more than 85 exchanges worldwide. It enables traders to develop their algorithms in hours and days rather than weeks and months. This is achieved through a simple programming language with many built-in functions which doesn't require extensive programming skills. As a server based solution with a high performance architecture RTD Tango guarantees extremely fast order processing via smart order agents. The system provides protection against self trades and mistrades as well as exchange connectivity losses or logical strategy errors. In addition RTS provides an optional back-testing facility using historic tick data and complete market depth for simulating even complex algorithms in a few seconds for each recorded day.

Alpha Edge is a high performance trading system for multi exchange and multi asset class instruments. It is server based, spread-centric, and highly customizable. The system was architected with a focus on fast execution speeds and rapid trading system develoment. The system boasts a number of advantages. * Server based. The server can be optimally located for fast exchange connectivity. * Rapid Deployment. Highly configurable gray box solution out of the box, can be easily adapted as a black box trading system. The real advantage of the system is it's ability to quickly add proprietary behavior. * Customizable Auto-Spreader. The generic behavior of the auto-spreader can be easily customized for proprietary spread trading. * Fast Execution. Our low-latency auto-spreader delivers sub millisecond submission of outrights on both active and reactive legs. * Cost Reduction. Rapid trading systems development signifigantly cuts software development costs for custom systems. * Broker and network neutral. * API availability. Signifigantly increase productivity of in-house software development by allowing developers to focus on algorithm development. * Small Trading Firms can completely outsource their trading systems development.

SpoozToolz is a unique high-performance trading middleware that utilizes Microsoft(R) Excel(R) as your Graphical User Interface (GUI). This proprietary breakthrough technology enables Microsoft Excel to perform robust and complex analysis, monitoring and electronic trade execution functions using live streaming and high speed ladder style order entry decks.

StreamBase provides an end-to-end platform for building, testing, deploying, and easily managing algorithmic trading applications. Our platform includes a graphical integrated development environment that allows analysts or programmers to quickly prototype new applications and strategies, backtest on historical data--and deploy production-ready applications within as little as days. We also provide a high-performance run-time server capable of processing data at rates of up to hundreds of thousands of messages/second with sub-millisecond latency, and we offer a library of adapters to connect to common market data feeds and exchanges, messaging systems, and enterprise databases.

Susquehanna Financial Group LLLP's suite of algorithmic execution solutions, named aXe, helps institutional investors satisfy strategic, timing, price and liquidity demands. All executions are handled on an Agency basis.

A simple, economical, Excel-based solution to automated trading.

TradeTrek Securities is an agency-only broker; and a leading provider of quantitative execution trading services for institutional investors. We are pioneers in applying algorithmic order presentation and execution to the full spectrum of capitalization and investment styles. Clients are offered an extensive menu of trading algorithms for individual orders and baskets that provide a consistent level of execution quality. Our on-going research & development effort helps to maintain our leadership in algorithm-based best execution practices.

Tethys Technology?s Execta Platform is a powerful and flexible broker-neutral electronic trading and portfolio management solution. The Platform facilitates strategy simulation, optimal trade execution, trade opportunity detection and portfolio and risk management. Execta supports US and Global Equities, Options, Futures and F/X. Our clients include long-only investment managers, hedge funds and broker dealers. Clients use the platform for DMA and broker-assisted execution, automated execution using Tethys Algorithms, route orders to broker algorithmic trading desks and develop and test their own proprietary algorithms. Execta pre-trade, real-time and post-trade analytics allow users to make informed decisions, manage risk in real time, monitor the quality of executions and to refine execution strategies. IN addition we offer comprehensive pre-trade, real-time and post-trade TCA tools.

UBS-DSA's proprietary strategy tools seek out our natural liquidity while actively executing orders in markets across the globe. Our algorithms have been optimized to interact with the UBS Liquidity Network, resulting in extraordinary natural crossing opportunities. Using sophisticated quantitative models, our algorithms dynamically react to real-time market events to help achieve best execution. Customizable strategies are tailored to each market center and include benchmark-driven algorithms (implementation shortfall), participation algorithms (volume inline) and liquidity-seeking algorithms (PIN complete). Our autonomous direct execution desk continually ensures the high performance of our algorithms and provides feedback directly to clients.

Pragma@Weeden is the result of a partnership between Pragma Financial Systems, a leading developer of trading algorithms, and Weeden & Co., a premier institutional equity brokerage firm. Pragma@Weeden provides clients with a powerful algorithmic trading platform that delivers superior execution. Our advantage comes from our mathematically rigorous estimation and optimization of execution cost and risk, including consideration of alpha decay, use of a clean covariance matrix for portfolio level correlative effects, and use of intra-day volume and volatility patterns. By optimizing the tradeoff between risk and cost, Pragma@Weeden algorithms are a natural extension of your stock selection process. Although sophisticated, Pragma@Weeden is easy to use and is deployable in an unhosted broker-neutral configuration.

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Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

As an algorithmic trading platform, Apama provides tools for incorporating any kind of algorithm within a trading strategy., Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Small Order, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Spread (Pairs) Trading, Slicer, Cap/Floor Price, Pegging, TWAP, VWAP

Close, Discretion, Pegging, Scaling, Percent of Volume, Arrival Price, Order Staging Model, TWAP, VWAP

Spread (Pairs) Trading, Slicer, Cap/Floor Price, Pegging, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, TVOL, TWAP, VWAP

User customized algorithms, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Scaling, Small Order, Percent of Volume, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Darkpool access, Close, Crossing, Slicer, Pegging, Small Order, Percent of Volume, Arrival Price, TVOL, TWAP, VWAP

We provide a quantitative software platform where many of the above items can be utilized.

Signal Reduction Strategies, Close, Spread (Pairs) Trading, Crossing, Slicer, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Arrival Price, TWAP, VWAP

Percent of Volume, Arrival Price, VWAP

FAN, Covert, Sumo, 10b-18, Volume Tracker, Liquidity Paced, Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Arrival Price, Order Staging Model, TVOL, TWAP, VWAP

Customizable Strategies from Brokers based upon specific Buy-Side client requests, Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Custom Designed by firms., Spread (Pairs) Trading, Slicer, Long/Short, Statistical Arbitrage, TVOL, TWAP, VWAP

Auto FX Hedging, Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

ATS Aggregator, Crossing, Percent of Volume, Arrival Price, TVOL, TWAP, VWAP

Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Percent of Volume, Risk Arbitrage, Statistical Arbitrage, Arrival Price, TVOL, TWAP, VWAP

Custom Designed by firms. Spread (Pairs) Trading, Slicer, Long/Short, Statistical Arbitrage, TWAP, VWAP

Available via REDIPlus platform, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Sensitivity, TWAP, VWAP

Each automated trader accessing the market via HUBB gets the same low latency, reliable connection to allow the most control in tailoring an algorithm to best fit a trading strategy.

Close, Spread (Pairs) Trading, Crossing, Slicer, Pegging, Delta Hedge, Gamma Hedge, Scaling, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, TVOL, TWAP, VWAP

Spread (Pairs) Trading, Crossing, Slicer, Discretion, Pegging, Small Order, Percent of Volume, Risk Arbitrage, Arrival Price, TVOL, TWAP, VWAP

Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Scaling, Small Order, Percent of Volume, Long/Short, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Portfolio Optimization (TAO), Implementation Shortfall, Percent of Volume, TWAP, VWAP, Smart Order Routing/Sweeping.

Advanced Strategy Toolkit (our algorithm customization framework), Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Scaling, Small Order, Percent of Volume, Risk Arbitrage, Statistical Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Close, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Scaling, Small Order, Percent of Volume, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Close, Spread (Pairs) Trading, Crossing, Slicer, Discretion, Pegging, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Short Sell, Contingent, Close, Spread (Pairs) Trading, Slicer, Pegging, Percent of Volume, Statistical Arbitrage, Arrival Price, TVOL, TWAP, VWAP

Crossing, Slicer, Pegging, Small Order, Percent of Volume, TVOL, TWAP, VWAP

Orc Liquidator does not come with pre-packaged algorithms. It is a development environment that gives trading firms the ability implement proprietary algorithms with short time to mark.

Crossing, Pegging, Long/Short, Arrival Price

Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

VWAP, TWAP, TVOL, arrival price, percent of volume.

Strategies are proprietary to the customer. Together with the software RTD Tango comes with some example algorithms.

Custom Algorithm Development, Spread (Pairs) Trading, Statistical Arbitrage, Index Arbitrage

custom, synthetics|Close|Spread (Pairs) Trading|Crossing|Slicer|Cap/Floor Price|Discretion|Pegging|Delta Hedge|Gamma Hedge|Scaling|Small Order|Percent of Volume|Long/Short|Risk Arbitrage|Statistical Arbitrage|Index Arbitrage|Arrival Price|Order Staging Model|Sensitivity|TVOL|TWAP|VWAP

A variety of algorithms are included or can be readily built via StreamBase , Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

TEMPO-Portfolio Trading Strategy, Percent of Volume, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Custom, Broker Provided, Spread (Pairs) Trading, Slicer, Pegging, Small Order, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Order Staging Model, TVOL, TWAP, VWAP

Spread (Pairs) Trading, Slicer, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, TVOL, TWAP, VWAP

EBEST, EMINI, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

PIN Complete, Close, Spread (Pairs) Trading, Crossing, Slicer, Cap/Floor Price, Discretion, Pegging, Delta Hedge, Gamma Hedge, Scaling, Small Order, Percent of Volume, Long/Short, Risk Arbitrage, Statistical Arbitrage, Index Arbitrage, Arrival Price, Order Staging Model, Sensitivity, TVOL, TWAP, VWAP

Close, Spread (Pairs) Trading, Small Order, Percent of Volume, Long/Short, Arrival Price, TVOL, TWAP, VWAP

50% hedge funds, 20% mutual funds, 30% sell side. Please call us for a client list and case studies.

40% Hedge Funds, 10% Mutual Funds, 50% Sell-Side Firms; Clients include: JP Morgan Deutsche Bank ABN AMRO Aspect Capital - Please contact Progress, since the clients are updated on a regular basis.

80% hedge funds, 0% mutual funds, 20% other

60% hedge funds, 20% mutual funds, 20% other

10% hedge funds, 20% mutual funds, 70% other

E.A.S.T is utilized by a wide variety of client types including hedge funds, mutual funds, investment advisors and broker-dealers.

N/A

30% hedge funds, 10% mutual funds, 60% Individual traders; Clients include: Merrill Lynch Rosenthal Collins Traders Studio Genesis Financial Technology Chicago Trading Services BLOX Capital Peregrine Financial Group cporesearch.com

30% hedge funds, 70% mutual funds.

Proprietary Trading Desk 10%, Mutual funds 60%, Hedge funds 30%

40% hedge funds, 40% mutual funds, 20% other. AES helps over a thousand institutions and hedge funds reduce market impact, improve performance, and add consistency to their trading process.

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Hedge Funds: 50%; Broker-Dealers: 40%; Mutual Funds: 10%

40% hedge funds, 40% mutual funds, 30% other; More than 80 buy-side institutions