Finance: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
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
- ↑ 1.0 1.1 "A Conversation with Nick Davidge". Wall Street & Technology. September 8, 2000. http://www.wallstreetandtech.com/careers/a-conversation-with-nick-davidge/d/d-id/1253956.html.
- ↑ "semi annual report: FEAS". October 3, 2005. http://www.feas.org/downloads/feasoctoberindex.pdf.
- ↑ "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. http://www.wallstreetandtech.com/careers/brown-brothers-tackles-stp-for-overseas-nasdaq-orders/d/d-id/1253979.html.
- ↑ "S1 Corp. to buy Davidge Data for $20 million". MarketWatch. March 16, 2000. https://www.marketwatch.com/story/software-report-s1-corp-to-buy-davidge-data-for-20-million.
- ↑ "GL Trade Buys Ubitrade Group". Wall Street & Technology. February 12, 2004. http://www.wallstreetandtech.com/electronic-trading-newsflashes/d/d-id/1256800.html.
- ↑ "GL Trade to acquire US order routing firm Davidge Data Systems". October 21, 2004. https://www.finextra.com/newsarticle/12726/gl-trade-to-acquire-us-order-routing-firm-davidge-data-systems.
- ↑ "Davidge Wires Brokerages with Securities Exchanges". November 27, 1995. https://www.pionline.com/article/19951127/PRINT/511270723/davidge-wires-brokerages-with-securities-exchanges-real-estate-data-online-cms-subscriber-rate-up-schroders-taps-inf.
- ↑ since 2000-01-01. "Davidge Data Systems Corp Overview". https://ie.globaldatabase.com/company/davidge-data-systems-corp.
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