âOur clients turn to us for innovation in technology and execution services, but they also look to us for high-touch education in the use of such tools particularly against the backdrop of a fragmented market that is confusing to them,â said EdgeTrade CEO, Joseph Wald. âThis white paper will garner a wide audience because the information within is candid, authoritative and conflict-free. EdgeTrade is a software firm that lives inside an agency-only broker-dealer. Coupled with our expertise in the microstructure of the market, EdgeTrade is the archetype of a new broker that traders, on the buy-side and sell-side, are looking to for best execution in absolute unconflicted and quantifiable terms.â
Numerous themes are addressed in the EdgeTrade white paper, including:
--Why fragmented markets (public and dark pools) are displacing smart order routing in favor of smart order execution tactics, as a means of rapidly uncovering liquidity and sourcing a best execution.
--Recognizing the silver lining in market fragmentation that is delivering liquidity, in unprecedented terms, directly to the hands of traders.
--How FAN, EdgeTradeâs foundation smart order execution algorithm, is a quantum leap ahead of algorithmic technologies given its ability to process, in milliseconds, as much as 10 times the volume of message traffic as a typical smart order routing tool.
âSmart order execution remains a new concept to some,â said EdgeTrade President, Kyle Zasky. âWhile they still struggle with dated terminology and âdumbâ technology of smart order routing, the many traders who have quickly and aggressively adopted smart order execution are those who realize they now have it within their own grasp to tap sub-second shifting liquidity regardless of where it may reside; dark pools, public markets or a combination of both. The last several months of market volatility has resulted in extraordinarily high usage of EdgeTradeâs smart order execution algorithms which indicates that traders, when presented with the right tools, prefer to seek out liquidity through agency-only strategies that protect their anonymity. They are the new breed of empowered traders.â