âIn a post Reg NMS world, brokers of all sizes will need to adhere to best execution and related compliance requirements that QSB can facilitate,â said EdgeTrade CEO, Joseph Wald. Adopted last year by the Securities and Exchange Commission, Reg NMS is a series of initiatives designed to modernize and strengthen the national market system for equity securities. âSome broker-dealers are ceding too much ground to bulge bracket firms, because they lack the resources to develop sophisticated trading and execution tools. QSB can help them stave off the competition and most importantly, deliver greater trade execution value to their buy-side clients,â said Wald.
Client firms of EdgeTrade, which number more than 150 in North America and Europe, include hedge funds, mutual funds, asset management firms and broker-dealers. EdgeTradeâs overarching mission is to empower traders with an unconflicted, agency-only model that offers high-speed and quality of anonymous execution, coupled with innovative trading technology.
âOur firm prides itself on maintaining a culture of best execution, anonymity and compliance,â said Bley Investment Group Founder & President, Laura Haley Bley, CFA. âAn important addition to our existing FIX-based trading platform, QSB helps further this commitment through tools and services that allow us to create our own customized and private-labeled agency algorithmic offering.â Bley has integrated its order management system, Arrowhead Pipes, with EdgeTrade and is executing its own trades. Bley Investment Group provides trade executions for equity and fixed income securities on behalf of its institutional clients including money managers, banks, corporations, endowment funds, trust accounts and retirement funds.
QSB is EdgeTradeâs umbrella of algorithmic and DMA offerings designed to support institutional broker-dealers with technology resources to address a variety of needs, including: improving their existing algorithmic trading desk performance with the addition of EdgeTradeâs agency-based strategies; approaching the algorithmic trading space as a new entrant with advanced strategies and anonymous execution services; offering a private-label, completely confidential algorithmic offering to their buy-side clients; and growing and diversifying their menu of electronic trading services to include, for example, automation of corporate buyback orders by private-labeling EdgeTradeâs 10b-18 algorithm. QSB also provides firms the option to integrate these services into their own front-end (e.g., OMS), or private-label Execution Management SystemTM (EMSTM), EdgeTradeâs independent, agency front-end platform for single stock and basket equity orders.
âQSB is designed to assist sell-side firms in capturing more order flow, regardless of their current infrastructure,â said EdgeTrade President, Kyle Zasky. âThese firms can elect to use their own front-end systems and market connections, or private-label EMS and execute, anonymously, through EdgeTradeâs lines.â