Devexperts Brings Real-Time Market Anomaly Detector to DXtrade

Devexperts has introduced its dxFeed Grenadier tool, which detects market anomalies like shifts and atypical order-placing activities in real time, to its DXtrade trading platform.

Scanning the Market in Real Time

Announced today (Tuesday), Grenadier analyses Level 2 order book data in real time and helps traders anticipate and react to significant price changes or disruptions.

“Grenadier is a one-of-a-kind application that can help traders and risk management teams alike pre-empt price changes before they happen,” said Jon Light, Senior Director of Product Management at Devexperts.

“Having been trained on vast amounts of historical data, Grenadier’s insights are deeply informative, with nothing like it anywhere else in the market. We are pleased that we will soon be able to offer this unique and powerful tool to our DXtrade clients, providing them with access to the newest generation of market microstructural tools.”

The tool offers an anomaly score API that provides real-time assessments of market anomaly scores, along with a complete view of the order book as inferred by anomaly-free models. Users can also customise and fine-tune the models according to their outlier preferences and oversee entire portfolios or watchlists at the same time for early warnings.

It is tailored to the US stock market and, according to the company, can process thousands of requests per second.

Devexperts highlights that institutions licensing the DXtrade platform will have the option to integrate Grenadier into their offerings.

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Meeting the Tech Demand in the Trading Industry

Devexperts has been on a product push in recent months, with several moves signalling an effort to build out the DXtrade ecosystem. Most recently, the platform acquired Screener, a research data provider, with the stated goal of reducing trader drop-off by bringing market research in-house. It also opened up DXcharts to custom JavaScript indicators.

Earlier this year, DXtrade Mobile integrated BrokerIQ to extend CRM functionality to mobile users, while a tie-up with Arizet rounded out the infrastructure offering for prop trading firms with real-time risk management capabilities.

The groundwork for some of these additions stretches back further. About a year ago, DXcharts incorporated the Devexa AI assistant to handle developer queries around customisation and integration — a tool primarily aimed at smoothing the onboarding experience for new licensees.