Next Generation, Intuitive Interface for Systematic Selection of Algorithms to Optimize Best Execution
FlexTrade (@FlexTrade), a global leader in multi-asset execution and order management systems, today announced the rollout of FlexAlgoWheel, the next generation, data-driven interface to algo selection that incorporates real-time internal and external inputs as well as 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 full transparency and consistency in the best execution process -- a requirement of MiFID II compliance.
“Firm-wide, data-driven, unbiased consistency in the algorithm selection criteria will become the norm,” said Kedia.
FlexAlgoWheel is currently being implemented by multiple buy-side firms that utilize more than 200 brokers, and have a large number of portfolio managers and strategies.
Available through the company’s award-winning FlexTRADER® multi-asset execution management system (EMS), FlexAlgoWheel covers:
Founded in 1996, FlexTrade Systems, Inc. is the industry pioneer in broker-neutral algorithmic trading platforms for equities, foreign exchange and listed derivatives. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than 200 buy-side and sell-side firms, including many of the largest hedge funds, asset managers, commodity trading advisors, investment banks and institutional brokers. For more information, visit FlexTrade Systems at www.flextrade.com
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