New York City – June 9, 2010 - Mahogany Partners, LLC, a consortium of mid-tier broker dealers announced today that MIXIT, Inc. has become the first order management system (OMS) to test, certify, and connect to the Mahogany Partners SONARSM block trading system.
The Mahogany SONARSM system allows consortium members to identify anonymous block trading opportunities through a seamless electronic interface into their OMS. SONARSM automatically alerts traders when block trading opportunities are found.
MIXIT offers a robust and scalable OMS, designed to provide end users with a single interface and gateway to their clients across all significant marketplaces. The Mahogany SONARSM system provides traders with a companion blotter and block trading functionality to be able to seek out liquidity in selected block trading venues.
"Partnerships with solution providers like MIXIT are key to providing our members with expanded access to liquidity and establishing Mahogany's consortium as the preferred destination for block execution services", said John A. Dyer, Jr., senior vice president of market development at Mahogany Partners. "Through their flexible, open platform, more sell-side firms and their clients can participate in Mahogany's block trading platform."
"We welcome this partnership with Mahogany Partners," said Walter Fitzgerald, president and chief executive officer of MIXIT. "Many of our client firms manage large institutional order flow. Providing connectivity to Mahogany Partners' SONAR SM system demonstrates our commitment to provide these clients with access to natural block trading venues. Our relationship with Mahogany Partners is a clear differentiator."
About Mahogany Partners, LLC
Mahogany Partners was founded in 2008 by a team of veteran market structure experts and technologists, and is backed by a consortium of sell-side firms dedicated to facilitating access to natural block liquidity venues, and innovative block trading technology and strategic alliances.
The Mahogany consortium consists of a network of experienced trading professionals serving the nation's top financial institutions. Each of its members has a long track record and respected industry pedigree.
Through the Mahogany team of market structure and trading technology experts, the consortium members are able to consolidate resources, intellectual capital, marketing ideas and market access to reduce costs. Mahogany is enhancing the consortium's electronic execution capabilities to enable them to be more efficient and to be the destination of choice for hightouch block transactions.