FlexTrade Unveils FlexAlgoWheel Technology to Improve Broker and Algo Selection

FlexAlgoWheel is currently available through the FlexTRADER product suite.

FlexTrade Systems, a specialist in multi-asset execution and order management systems, today upgraded its EMS offering with a new product, known as FlexAlgoWheel, which provides a wide range of order characteristics through a data-driven interface that incorporates real-time internal and external inputs.

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FlexAlgoWheel also encompasses a real-time and historical Transaction Cost Analysis (TCA) tool in a bid to optimize broker and algo selection processes. Furthermore, it enables full transparency and consistency in the best execution process which has become a requirement under the Markets in Financial Instruments Directive II (MiFID II), the technology provider said.

Additionally, FlexAlgoWheel offers access to all brokers and algorithms, portfolio manager instructions and benchmarks plus real-time market conditions and volatility. The solution generates internal and external signals, such as volume, momentum or alpha predictions, as well as a feedback mechanism via TCA.

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With the new solution rollout, buy-side firms will be able to configure a quantifiable decision matrix through FlexAlgoWheel’s point-and-click interface that selects the optimal broker and algorithm.

FlexAlgoWheel is currently available through the FlexTRADER product suite and is already implemented by multiple buy-side firms. FlexTRADER is a customizable execution management system (EMS) with pre-defined trading strategies and tactics for portfolio and single stock trading across all asset classes.

Global investment managers prefer the solution since the consolidation of equities, FX, listed options, futures, or any combination is essential on the same platform in order to ensure smooth functioning. The multi-asset execution management system can also be tailored for global access to broker algorithms, as well as the ability to build proprietary algorithms.

Commenting on the new product, Vijay Kedia, CEO of FlexTrade, said: “An important, yet repetitive role of any trader is to select the right broker and algorithm based on a multitude of factors, such as order characteristics, portfolio manager instructions, market volatility and relative contribution to risk in the portfolio.”

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