CyBerCorp and Data Transmission Network Corp. have signed a deal that calls for DTN to integrate CyBerCorps CyBerXchange order routing and execution application with DTN.IQan Internet-based equities market data system. Via CyBerXchange, DTN, which caters mostly to day traders and individual investors, expects to provide clients with electronic access to a multitude of execution destinations. In contrast, through DTN.IQ, CyBerCorp expects to broaden its reach in the retail investor community
Following the June launch of CyBerXchange, CyBerCorp initially targeted the product at institutional traders and hedge fund managers. But by melding CyBerXchange with DTN.IQwhich supplies real-time stock quotes, news, charting and portfolio analysis to roughly 22,000 financial services subscribersCyBerCorp is looking to tap into a more diverse pool of investors.
DTN, meanwhile, is counting on CyBerXchange to upgrade its subscribers electronic trading options.
CyBerXchange provides direct links to a host of market makers and five electronic communications networks (ECNs): Archipelago, PIM Global Equities NexTrade, Datek Online Holding Corp.s Island, Spear Leeds and Kelloggs Redibook and All-Tech Investment Groups Attain.
Eric Stokes, vice president of DTNs Omaha, Neb.-based DTN Financial Services unit, says that DTN was pleased with the variety of execution destinations to which CyBerXchange provides gateways. Moreover, he says CyBerXchange produces trade executions more quickly than most browser-based trading systems do. "It is impressive how quickly the fills occur via CyBerXchange," says Stokes.