Watley has entered into an agreement with East Hill partners for the purpose of licensing software that will automate equity order flow management. A.B. Watley Group will acquire a 50% ownership interest in East Hill Partners as part of the agreement.
East Hill’s approach to business is to use technology to reduce operating costs, while employing sophisticated algorithms to deliver effective order management. Broker-dealers have seen a patchwork of payment for order flow agreements unravel. We feel we have an order management solution for this broker-dealer community in this rapidly changing environment of decimalization and spread reduction. Our partnership with Watley, the clear leader in direct-access trading technology, is very logical for us. They have the technology team, structure and vision to execute this business. said East Hill CEO Victor Sandor.
We continue to look for ways to leverage our technology into the financial services sector. Our joint venture with East Hill enables Watley Group Inc. to move closer to our goal of gaining more revenue from our B2B partners. Our licensing partners have made it very clear that their priorities are 1) a solution for direct-access trading, and 2) a solution for reduction in payment for order flow and decimalization. Automated order flow management is a multi-billion dollar transaction value market. We see a huge opportunity due to the reduction in payment for order flow by the major market making firms. said Anthony Huston President of A.B. Watley Group Inc.
