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Davidge Data Systems

From Wikipedia, the free encyclopedia

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

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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

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  1. ^ a b "A Conversation with Nick Davidge". Wall Street & Technology. September 8, 2000.
  2. ^ "semi annual report: FEAS" (PDF). Federation of Euro-Asian Stock Exchanges. October 3, 2005.
  3. ^ "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.
  4. ^ "S1 Corp. to buy Davidge Data for $20 million". MarketWatch. March 16, 2000.
  5. ^ "GL Trade Buys Ubitrade Group". Wall Street & Technology. February 12, 2004.
  6. ^ "GL Trade to acquire US order routing firm Davidge Data Systems". October 21, 2004.
  7. ^ "Davidge Wires Brokerages with Securities Exchanges". November 27, 1995.
  8. ^ since 2000-01-01. "Davidge Data Systems Corp Overview".
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