Systems drive trading agenda

Trading systems have evolved – and with them, the market

By Rebekah Tunstead | 6 September 2018

Some vendors and brokerage firms claim to provide the best trading systems with diverse functions to assist traders, making it incredibly difficult for those aiming to make a purchase. However, several trading systems stand out of the crowd for their agility and adaptability.

Tora

Winner of the Trading System of the Year Award 2018, Tora was recognised for its achievements before and after the introduction of Mifid II. Tora provides cloud-based multi-asset OMS, EMS, portfolio management, and TCA solutions. Based in Tokyo, Tora is used by hedge funds, mutual funds, and sell-side proprietary trading desks. In the past year, it has remained a strong supporter of EMS and OMS fee transparency.

Horizon Software

Founded in 1998, Paris-based Horizon Software offers electronic trading solutions for financial institutions around the world. Shortlisted for the FOW and Global Investor Asia Multi-Asset Trading System, and winner of the 2017 FOW Multi-Asset Trading System award, Horizon Software focuses on various trading businesses related to listed markets. The company boasts a ‘Trade Your Way’ philosophy, allowing clients to create bespoke trading systems. They have a quick turnaround for creating, testing and implementing automated trading strategies.

Fidessa

Based in the UK Fidessa is a provider of multi-asset trading systems. The company’s integrated suite workflow applications automate the business flows of customer trading operations. Fidessa attributes their success to the ongoing investment in integrated solutions. Last year, the company was voted FOW’s Trading System of the Year 2017. Fidessa has successfully maintained an open OMS for easier integration, while also addressing significant regulatory challenges.

FlexTrade

Winner of the FStech Best Trading System 2018, FlexTrade is recognized for introducing FlexTRADER, the world’s first broker-neutral, execution management trading system. In May, FlexTrade was identified as the Best Front-Office Execution System 2018 by the Financial News Trading & Technology Awards Europe. FlexTRADER was chosen by the judging panel because of the platform’s TCA service, FlexTCA, which provides full order and execution transparency to traders and compliance teams in relation to Mifid II. 

BARX

BARX multi-asset trading system stands out for the variety of assets it allows users to trade in. Multi-threading and low latency programing is how BARX attempts to stay ahead of the competition. Initially designed for FX trading, the system has since been expanded to trade in commodities, derivatives, and several other asset classes.  BARX was the first platform to offer precision pricing in 2005, and later, the first two-way streaming prices for FX options in 2006. However, the system continues to deal with challenges in volume, as BARX encounters sharp spikes in usage at peak times.

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