REDI Global Technologies has integrated a suite of futures algorithms and DMA tools from Quantitative Brokers (“QB”) into its trade management platform, REDIPlus®, providing its more than 5,000 active users direct access to the award-winning algorithmic broker.
Under the arrangement, REDI users can now access QB’s BOLT and STROBE algorithms, in addition to its web-based transactional cost analysis (TCA) reports. QB’s proximity-hosted algorithms leverage fine details of each instrument’s microstructure, including the matching engine mechanics, hidden implied liquidity and short-term pricing signals, such as co-integration and mean reversion. Detailed TCA is then provided following each execution with 100% transparency on each child order and slippage performance.
“Quantitative Brokers has quickly become one of the leading providers of best execution algorithms for the fixed income and futures markets,” said Sean Sullivan, Chief Revenue Officer at REDI. “This arrangement provides our users with access to best-in-class agency algos through the addition of an extremely well-regarded broker to the REDI network.”
“We are constantly looking for ways to stay ahead by refining and enhancing our independent best execution and TCA services,” said Christian Hauff, CEO and co-founder of QB. “By joining forces with an industry leader like REDI, we can more rapidly address the growing demand for better execution in the fixed income and futures marketplaces.”
QB’s BOLT Algorithm targets Arrival Price using an optimal balance between both passive and aggressive fills, enabling clients to take charge of their short-term alpha. STROBE aims to beat the VWAP or TWAP benchmarks using maturity-specific volume, volatility and quote size forecasts to one-minute precision.
REDI was among the industry's first providers of execution technology and has pushed the state-of-the-art forward for more than 20 years. QB is a pioneer in the provision of independent agency algo execution in the fixed income and futures markets.