Merrin Financial Inc. has developed an electronic trading network that it says eliminates paper and enables fund managers to execute trades in less time.
The integrated Trading Network, which joins money managers, brokers, and exchanges into one network, is designed to provide a quicker way to make trades and obtain faster and more accurate trading information.
We're providing a supply and distribution network for the securities industry," said Seth Merrin, president of the firm.
So far, the New York-based firm has recruited 12 Wall Street brokerage firms to participate in the network, including Merrill Lynch & Co., Salomon Brothers Inc., Morgan Stanley & Co., Paine-Webber Inc., and Fidelity Investments.
Merrin's network offers brokerage firms a way to capture trading volume from institutions using its trading platform.