Schonfeld And Trinix Partner To Launch IBS To Up Ante On Trade Executions

Schonfeld Group, a proprietary and retail trading and investments firm, is partnering with direct access firm Trinix Securities to offer Institutional Brokerage Services (IBS), a new business focused on providing better and more cost effective trade execution services for hedge

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Schonfeld Group, a proprietary and retail trading and investments firm, is partnering with direct-access firm Trinix Securities to offer Institutional Brokerage Services (IBS), a new business focused on providing better and more cost effective trade execution services for hedge and value funds as well as portfolio managers.

“We are excited to add first class execution services to support our growing institutional clientele. Through this joint venture with Trinix, we can now provide institutions, most notably for Schonfeld the hedge fund community, a non-conflicted agency desk focused solely on ensuring best execution,” said Andrew Fishman, President of Schonfeld Group. “Trinix’s success has been built on two distinct skill sets; proprietary software that allows institutions direct access and the sophistication and service capabilities of the professionals at the company’s execution desk in putting in place trading strategies that provide institutions true competitive advantage. We believe that this combination of technology and service well positions Schonfeld Group and Trinix to serve this community.”

Schonfeld IBS will operate as a division of Schonfeld Securities, LLC, which provides execution services to institutional customers (including hedge funds) on an agency basis.

IBS customers will have access to an Agency Trade Desk; Program/Quantitative Trade Desk; clearing, DVP, and prime brokerage alternatives through Schonfeld Securities LLC; block trading solutions for equities models through their exclusive, proprietary, algorithmic systems; direct access technology over a secure internet connection or via T+1; and soft-dollar services.

The cornerstone of Schonfeld IBS’s suite of services is the Trade Desk. Through the Trade Desk and other automated options, Schonfeld executes orders on an agency basis in an effort to eliminate conflicts of interest.

Schonfeld Group, a professional trading pioneer, the company’s businesses include leadership positions in both the retail and proprietary trading communities, clearing services, and a focus on alternative investments including hedge funds and private equity.

Trinix Securities is a low cost agency execution desk that provides a full range of OTC, listed and program execution services to institutional traders seeking anonymity, liquidity and discretion when executing block, program and single stock directional trades. Trinix Securities uses T-REX, its own proprietary front-end platform. T-REX is a best of breed trading system that facilitates VWAP execution and offers trading solutions to program and/or black-box trading systems.

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