Kestrel creates highly-customized trading solutions for exchanges, electronic communications networks (ECNs), alternative trading systems and other crossing networks. We have experience building complete exchange systems that can handle practically any financial instrument or commodity — no matter how complicated — including futures and options.

We have designed and implemented exchange solutions for some of the country’s largest financial and commodities exchanges, including:

• The New York Stock Exchange (NYSE) - A web-based order management system for fixed income securities.
  
  
• The New Orleans Receivables Exchange - A complete internet-based exchange for commercial receivables, equipment leases, purchase orders, insurance contracts and other assets that are not traditionally traded.
  
  

Our robust, proprietary technology offers rich functionality, including:

• Customer-Facing Applications - Allow a user to log into the exchange, search for the specific financial instrument (by issuer, credit rating, sector, maturity, yield, etc.), enter orders, manage their account and monitor the market.
  
  

• Matching Engine - Matches orders and bids in a strict time/price priority framework for a wide variety of order types. It’s fast, flexible and — because of our expertise in complicated fixed income trading — works for virtually any financial instrument or commodity.
  
  

Our exchange solutions are highly customized to the specific needs of our clients. Systems are designed and implemented in four steps:

• Assessment - During the assessment phase, Kestrel business analysts take a fine-toothed comb to your exchange’s operations, analyzing what processes are used and how data move, in order to achieve straight-through processing.
  
  
• Planning - Our analysts write up a thorough, detailed report and present the findings to you. The report contains a summary of the exchange operations and specific recommendations to address each segment of the exchange process. Our goal in the planning phase is to become your technology partner — we’ll work with you to design technology solutions that solve your problems.
  
  
• Implementation - Once we’ve identified the appropriate software solutions, our developers sit down with your technology staff and work out the best way to achieve a seamless implementation. Our implementation process is highly collaborative and often includes our consultants working on-site, hand-in-hand with your in-house technology staff.
  
  
• Support - We’re there to support you 24 hours a day, 7 days a week. After the solution has been implemented, we’ll make sure that your system runs smoothly. If you need support personnel on-site at all times to maintain your system, we can provide them.
  
  

For more information about our exchange solutions, please call us at 212-440-5999.