Davidge Data Systems
Davidge Data Systems Corporation was "a privately held software company that specializes in middleware for trade ordering, execution and back-office connectivity for Wall Street firms,"[1] including Smart order routing.[2]
The company's DavNet includes the ability to efficiently handle large volumes of small orders.[3]
History
[edit]Davidge, founded 1982, was acquired by S1 Corporation, a holding company, in April, 2000, for about $20 million,[4] at a time when it seemed that "banks in the U.S. were going to control much of the retail brokerage" industry, especially as related to online trading.[1] S1 sold Davidge to Paris-based GL-trade in October, 2003.[5]
At that time, Davidge software was used for "40% of US listed options volume and served "40 New York Stock Exchange members ... and several of the 10 largest brokerage firms."[6]
Their international order routing includes Canada[7] and Britain.[8]
References
[edit]- ^ a b "A Conversation with Nick Davidge". Wall Street & Technology. September 8, 2000.
- ^ "semi annual report: FEAS" (PDF). Federation of Euro-Asian Stock Exchanges. October 3, 2005.
- ^ "retail orders less than 1,000 shares" "Straight-through processing .. compete with .. like Charles Schwab and E*Trade" "Brown Brothers Tackles STP For Overseas Nasdaq Orders". Wall Street & Technology. August 14, 2000.
- ^ "S1 Corp. to buy Davidge Data for $20 million". MarketWatch. March 16, 2000.
- ^ "GL Trade Buys Ubitrade Group". Wall Street & Technology. February 12, 2004.
- ^ "GL Trade to acquire US order routing firm Davidge Data Systems". October 21, 2004.
- ^ "Davidge Wires Brokerages with Securities Exchanges". November 27, 1995.
- ^ since 2000-01-01. "Davidge Data Systems Corp Overview".
External links
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