TradAir, an Israel-based provider of cloud-based trading technology solutions, today announced that it has enhanced its Full-Amount execution system, which enables clients to execute certain trades in a single transaction and with a single counterparty.
The enhancement complements existing algorithmic execution capabilities, the company says.
A new liquidity protocol is at the heart of the feature. Liquidity providers will stream liquidity according to new ‘relationship based liquidity agreements,’ enabling orders to be executed with the one LP that provides the best price for an entire quantity. Initially, sizes quoted for the Full Amount pricing on TradAir’s platform will be up to $100 million currency units. Only the winning liquidity provider and the price taker client will know that the trade took place.
The improved facility also benefits LPs as it discourages traders from simultaneously trading on multiple platforms to amass the full trade amount that they seek. This practice is undesirable from the perspective of liquidity providers, often resulting in a market maker pricing more defensively as it doesn’t know the full amount of the original order.
TradAir offers its customers access to deep levels of FX liquidity, sourced from major bank and non-bank liquidity providers, delivered via TradAir’s HTML5 eFX platform.
The technology developer has positioned itself as an ideal partner for many brokerages as the company deploys its servers in several locations. Co-location greatly improves the competitiveness of the service and the quality of FX liquidity that clients can offer to their customers. TradAir has offices in London, New York, Singapore and Tel Aviv.
Commenting on this, Ayal Jedeikin, TradAir’s acting CEO, noted: “Execution performance is critical to our clients and their customers, by providing direct relationship based liquidity to our clients and optimizing the execution between sweepable and full amount liquidity we can provide clients the controls to optimize their fill ratio based on their own trading flows and styles.”