AutEx has signed a pact with A.W. Bertsch Inc. that will enable clients of AutExs TradeRoute+ order routing and execution network to electronically send orders directly to the floor of the New York Stock Exchange. A.W. Bertschan independent brokerage firm that operates on the floor of the big boardwill tap into TradeRoute+ client orders via the NYSEs broker booth support system (BBSS).
John Spensieri, national sales manager for The AutEx Group, says that AutEx expects to go live with the TradeRoute+ link to Bertsch this month. The main reason AutEx agreed to the deal, he says, was because it needed to provide TradeRoutes U.S. clientscomprised mainly of buy-side institutions and sell-side broker/dealerswith direct access to the NYSE floor. Spensieri adds that a few institutions and a group of "smaller" broker/dealers have agreed to use the interface, but declines to specify them.
In the past, Spensieri explains, some TradeRoute+ clients have had only two options for routing orders to an NYSE floor brokerage firm: the telephone or fax. But now, for the first time, clients of AutExs order routing network will be able to electronically send orders to the NYSEs floor.