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FlexTrade launches FlexAlgoWheel

First Published 15th May 2017

FlexAlgoWheel provides Intuitive interface for systematic selection of algorithms to optimize best execution.

Vijay Kedia, FlexTrade

Vijay Kedia, FlexTrade

New York - FlexTrade, the provider of multi-asset execution and order management systems, has announced the rollout of FlexAlgoWheel, the data-driven interface to algo selection that incorporates real-time internal and external inputs and TCA to optimize the broker and algo selection process.

According to Vijay Kedia, President and CEO of FlexTrade, an important, yet repetitive role of any trader is to select the right broker and algorithm based on a multitude of factors, such as order characteristics, portfolio manager instructions, market volatility and relative contribution to risk in the portfolio.

FlexAlgoWheel enables buy-side firms to configure a systematic and quantifiable decision matrix through an intuitive point-and-click interface that dynamically selects the optimal broker and algorithm. Furthermore, it enables transparency and consistency in the best execution process -- a requirement of MiFID II compliance.

Available through the company's FlexTRADER multi-asset execution management system (EMS), FlexAlgoWheel covers:

  • Access to all brokers and algorithms.
  • Portfolio manager instructions and benchmarks.
  • A range of order characteristics.
  • Real-time market conditions and volatility.
  • Real-time and historical TCA.
  • Internally generated or external signals, such as volume, momentum or alpha predictions.
  • Real-time cash management.
  • Relative contribution of order to portfolio risk.
  • A feedback mechanism via TCA to optimize the broker and algorithm selection process.