What Is AUTEX?
Autex is an electronic platform from Thomson Reuters that allows potential buyers or sellers of a large block of shares to identify other large traders on the bid and ask side of a particular stock. By showing "trade advertisements" in a stock issue, the interface presents indications of interest among traders who wish to get a feel for the market liquidity before executing a large trade.
How Does AUTEX Work?
Imagine two traders in Company XYZ stock, one looking to sell 100,000 shares and another looking to purchase 100,000 shares. By showing interest on the Autex trade route system, they can identify each other without the risk of placing a large market order that could push the stock higher due to the immediate share imbalance. Once interest has been established on both sides of the trade, the trade will be executed in the standard manner, whether it be on the stock exchange or over-the-counter.
Buy-side investors often face a variety of complexities brought on by demand for many asset classes, brokers, and trade venues. Autex's trade routing system helps ease the adoption of new asset classes, broker relationships, and algorithmic trading methods by managing connectivity for routing order flow across global markets. The Autex's biggest selling point is its ability to eliminate technological barriers while allowing asset managers to do what they do best: allocate capital.
Institutional investors use the Thomson Reuters Autex trade route system for its:
- Multiple asset classes, with equities, options, and futures including FX and fixed income trades.
- Unrivaled network visibility of connections, utilization, and order metrics; enabling a one-stop-shop for session monitoring and order flow metrics.
- Access to the widest range of order types from standard FIX messages to lists and broker supplied algorithms, Good till date/Good till cancels and RFQs.
- Operational resiliency with regional POPs and dedicated disaster recovery management
- Easy on-boarding thanks to a tightly integrated community of OMS and EMS providers.