Autex

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Autex

Video communication network through which brokerage houses alert institutional investors of their desire to transact block business (a purchase or sale) in a given security. Indications transmit small, medium, and large sizes only, with occasional limits mentioned. Supers are messages with specific size and price included. Both "indications" and "supers" can be only seen by customers (institutional subscribers to Autex). Trade recaps, advertised block trades entered by the dealer/subscribers, are also displayed, but can be seen by both institutions and dealers. See: Expunge, size.

Autex

An electronic network allowing broker-dealers to communicate with each other easily when they receive orders to buy or sell a large block of securities. Autex allows broker-dealers to find a better, or at least a similar, counter-offer from another broker-dealer. This allows them to transact with other broker-dealers rather than automatically sending the block to the market maker, who is obliged to fill the order if need be. Autex is less commonly called the super message.

Autex

An electronic network alerting broker-dealers to the interests of other broker-dealers in buying or selling large blocks of securities. For example, a broker may have an institutional customer interested in disposing of 100,000 shares of a stock. Rather than dumping such a large order on the exchange specialist, the broker could use the Autex system to determine whether other broker-dealers are interested in, or have customers interested in, acquiring that block of stock.
References in periodicals archive ?
the leading provider of voice recognition for financial services, will demonstrate the new UMEVOICE Trader Interactive Messaging Environment (UVTIME) which has been proven at client sites to allow traders to rapidly speak trade messages through the Thomson Financial AutEx system.
former CEO of AutEx Systems, Thomson Financial Information, Tony
where he helped grow revenues from $13 million to $34 million over three years; and AutEx Systems, where he more than doubled revenue and profit and directed the company's acquisition by Xerox.
Prior to eShare, George was the chief executive officer of Autex Systems, a division of Xerox Corporation and chief executive officer of American Banker/Bondbuyer, a division of The Thomson Corporation.
His positions at Thomson included Controller of the AutEx Systems division, CFO of AutEx, CFO of Thomson Financial Networks, and lastly, CFO of the Thomson Trading Services Group.
Weeden, an early investor in the Instinet and Autex systems, is designed for institutions and brokers looking to unlock and tap directly the $50 billion market (in daily trading) in secondary corporate bonds.