Algorithmic Trading news articles - EDGETRADE TO INTEGRATE ITS AGENCY ALGORITHMS WITH
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EDGETRADE TO INTEGRATE ITS AGENCY ALGORITHMS WITH
Feb 5th 2007 - EdgeTrade, has announced an agreement with Charles River Development to collaboratively build an interface that will connect EdgeTrade?s agency algorithms with Charles River?s Investment Management System. The agreement will streamline the algorithmic trading process for EdgeTrade clients using Charles River IMS. Clients of EdgeTrade, totalling more than 150 in North America and Europe, include hedge funds, mutual funds, asset management firms and broker-dealers.
?We ensure traders have the ability to access EdgeTrade?s agency algorithms through the systems they?re most comfortable using,? said EdgeTrade President, Kyle Zasky. ?Charles River is an important addition to our growing list of interfaces.? EdgeTrade?s algorithms are available through Execution Management System?, the firm?s independent, agency-only platform for single stock and basket equity orders, as well as a number of buy-side and sell-side trading and order management systems, including: Bloomberg, ESP, Eze Castle, Fidessa, Longview (Linedata), Macgregor, Mixit, Moxy (Advent), Neovest, NYFIX, thinkorswim and Tradeware.
?Charles River is committed to offering institutional traders consolidated access to tools and services that enhance their trading decisions and results,? said Stephen Engdahl, Director of Product Management, Charles River Development. ?This relationship with EdgeTrade expands the depth and breadth of algorithmic trading strategies now available to our clients directly from the Charles River blotter.?
EdgeTrade is pioneering smart order execution strategies with Sumo and FAN (?Find and Nail? best execution in a fragmented market). Unveiled last September, FAN circulates orders to major public markets and dark books simultaneously, and continuously ?refreshes? until filled. Sumo, launched in 2005, is an aggressive, time-sensitive strategy designed to get trades done quickly with little to no market impact and information leakage. Other key features of EdgeTrade?s agency-only algorithmic trading service include a growing roster of benchmark strategies: VWAP, TWAP, Liquidity Paced, Volume Tracker and 10b-18 (corporate buyback).
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