BNY Brokerage Rolls Out Hosted Algorithmic Trading via FlexTrade
BNY Brokerage began offering a full range of algorithmic trading options via FlexTRADER linked to DEx, its direct execution platform. FlexTRADER is a broker-neutral algorithmic trading platform developed by FlexTrade Systems Inc. DEx offers direct-market access to major sources of liquidity.
The combined offering brings an array of algorithmic trading capabilities to DEx and can be deployed on clients' desktops without any hardware installation. Trading algorithms include off-the-shelf pairs, risk-arb, long/short, VWAP, PWAP, benchmark and minimum market impact strategies.
"We are committed to enabling our customers to take control of as much of their trading as they wish, even as we continue to provide expert broker assistance whenever it is needed," states Carey Pack, president of BNY Brokerage in the release. Pack further adds in the release that the relationship with FlexTrade complements BNY Brokerage's DEx direct-market access capabilities, while "providing our clients with advanced algorithmic trading tools without requiring a major IT investment on their part."
According to BNY's release, FlexTRADER linked to DEx provides buy-side clients with increased speed, quantitative tools and integrated end-to-end functionality. The functionality includes pre-trade cost estimation, smart order routing, real-time risk management, execution algorithms, quantitative trading strategies, real-time access to full depth of book and transaction quality management.