Prudential Financial Derivatives Joins Nybot's Electronic Order-Routing System

Prudential Financial Derivatives, LLC, a unit of Prudential Financial, Inc., has begun using the New York Board of Trade's electronic order-routing (EOR) system, streamlining the process of sending orders directly to the trading floor over the Internet. This integration allows for fast order flow, timely confirmations, order tracking, and an audit trail. The system is user-friendly, enabling market participants to more efficiently send orders and receive fill information.

Key Takeaways:

• Prudential Financial Derivatives, LLC has implemented the New York Board of Trade's electronic order-routing (EOR) system for its derivatives trading operations.
• The EOR system allows for fast and secure order flow to the trading floor, with real-time confirmations and order tracking.
• Kevin Kennedy, Chief Technology Officer for Prudential Financial Derivatives, highlighted the benefits of the EOR system, including quick order flow and timely confirmations.
• The system is designed to handle various types of trading, including futures, options, and complex strategies.
• Nybot's EOR system reached an all-time daily usage record on April 1, 2005, with over 200,000 orders routed since its initial deployment in March 2002.
• The system provides market participants with an Order Book Management System (OBMS) to send orders electronically to brokers in the trading ring, and then route them to floor traders using wireless handheld devices.
• C. Harry Falk, Nybot President and CEO, stated that the system makes open outcry more efficient, allowing users to quickly send orders and obtain fill information.

Statistics:

• 200,000+ orders routed to Nybot's EOR system since its initial deployment in March 2002.
• The EOR system reached an all-time daily usage record on April 1, 2005.

Sources:

• Dow Jones Commodities News via Comtex
• Susan Buchanan, Dow Jones Newswires (201-938-5950, Susan.buchanan@dowjones.com)