UAT, JONESTRADING TO PARTNER ON ‘LOW TOUCH’ ELECTRONIC ORDERS
Posted September 29, 2009
DENVER – UAT Inc., the Denver-based technology and consulting company
that developed the Unified Compliance and Control System (UCCS), has
announced the formation of a strategic relationship with JonesTrading
Institutional Services LLC, an agency brokerage and provider of
institutional block trading services.
Through the new relationship, UCCS clients will have the option to
outsource the trading of all electronic orders with low expected market
impact, or what are referred to as “Low Touch” transactions, to
JonesTrading.
Types of sponsors expected to benefit from UAT’s relationship with
JonesTrading include insurance companies, pension plans, mutual fund
companies, trusts, endowments and bank trust groups.
“JonesTrading’s longstanding reputation for value-added service and
outstanding technology is a perfect complement to UCCS clients who do
not operate their own trading desk,” says Tom Warren, President of UAT
Inc. “Their Order Monitoring and Execution Services give our clients the
ability to fully benefit from UCCS without hiring traders or additional
staff.”
The JonesTrading Order Monitoring and Execution Services will be a
particular benefit to UAT clients who do not operate in-house trading
facilities but wish to assume control of Low Touch order flow. The
trading services provided by JonesTrading will enable UAT clients to
benefit from all of UCCS’s features without having to add staff or
operate an internal trading desk. This outsourcing service offers a low
per share cost along with substantial breakpoints for higher trading
volume.
“We’re delighted to partner with UAT, as both of our organizations share the same goals of providing the highest quality services and technology at the lowest price to our partners,” says Packy Jones, Chairman of JonesTrading. “We believe that our strategic relationship with UAT will create a winning scenario for both the sponsor organizations that utilize UCCS and the shareholders in their underlying funds.”