London – Reuters, (LSE: RTR, NASDAQ: RTRSY) the global information company, today announced the availability of advanced trading strategies from seven top global brokers, directly from any Reuters premium desktop. Users will benefit from algorithmic trading strategies offered by brokers to execute orders according to parameters such as time, size, and method, chosen to minimize market impact and secure best execution.
Reuters now offers clients access to additional algorithmic trading strategies from seven new brokers, namely Banc of America Securities, Deutsche Bank, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch and Morgan Stanley, in addition to the existing algorithmic strategies from CSFB, Instinet and Bridge Trading. The new screens will be joined in 2005 by additional strategies from CIBC World Markets among other leading brokers.
Customers can access proprietary algorithmic trading strategies from each of the brokers from within their Reuters desktop, be it Reuters 3000 Xtra or Reuters Station. Orders are routed electronically over the same connectivity used to drive their Reuters desktop.
Tom Gros, Global Head of Equities at Reuters, comments: “Reuters has a global network linked to virtually all major institutions, so we’re taking advantage of our unique positioning in the industry to offer access to additional, leading-edge trading strategies. With the addition of the new algorithmic trading screens, we are offering smarter access to some of the broadest, deepest pools of liquidity anywhere. That can mean better execution opportunities and improved performance, by seeking out the best trades at the best prices.
“Our design allows clients to access brokers’ trading strategies with a single click, automatically invoking an easy-to-use order ticket for each strategy with its associated parameters. In addition to algorithmic trading, Reuters provides access to a truly global network of about 200 brokers.”
Emily Portney, COO for Equities at JPMorgan, comments: “By integrating JPMorgan's strategies through Reuters desktop we are able to reach a broader customer base without additional implementation cost. This is a great opportunity for customers to reap the benefits of JPMorgan's automated trading capabilities and complementary analytics right from their desktop.”
Mike Stewart, Managing Director and Head of Global Portfolio and Automated Trading at Merrill Lynch, comments: "This is a great opportunity for Merrill Lynch to deliver our proprietary ML X-ACTSM algorithms to a broad, high quality customer base. Enhancements like this enable our clients to access our industry-leading equity trading platform as quickly and efficiently as ever."
Eli Lederman, Managing Director of Equities at Morgan Stanley, comments: “Our clients focus more today than ever before on efficiency and on quality trade execution. Recognizing that connectivity is key to providing trading services that meet these requirements, we're happy to have worked with Reuters to embed our services in their order management products. We see the combination of our global sales trading, Benchmark Execution Strategies (BXS) algorithmic trading tools and DMA as comprising a comprehensive trading service for our clients -- all of which are now directly accessible through Reuters.”