Brokerage technology developer TradAir, with offices in London, New York, Tel Aviv, and Singapore, has announced its newest product leveraging Google’s BigQuery cloud analytics service, under the name TradeAir NOW, according to a company press release dated April 6th 2016.
The new solution is described as helping to deliver further insight into client trading behavior, as well as liquidity flow qualities, and related trading metrics, as the need for brokers to understand their often-complex data across vast quantities of information generated, continues to be critical in assessing often-hidden trends within their business performance.
In addition, a number of tools that could assist with risk management were also included in the new product description, such as the ability for firms to identify toxic flows and take appropriate related actions such as hedging. Big data continues to be a huge area of interest as large companies such as Microsoft, Amazon, IBM, Google and others, branch into financial services and industries where vast amounts of data are generated.
Google Cloud-Based Solution
The reference to the word ‘Now’ within the new product name appears to highlight the products real-time analysis capability, in addition for users to take a broader review looking backward over historical data.
Some of the potential benefits that were highlighted by TradAir include the ability to capture trade, order rejection, and latency through the trader execution life cycle, as well as translating trade data into actionable platform metrics for future optimization, and optimize client pricing based on currency pair related activity. An image of the platform interface can be seen below:
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In addition, the new TradAir NOW product provides a way for firms to optimize Liquidity Provider (LP) parameters related to rejection rates, last-look latency, and ranking spreads across providers, and the press release described how the solution was easy to integrate with nearly any platform.
A description of future iterations included the addition of compliance related tools with regard to demonstrating fair dealing, detecting abusive last-look from LPs, and recreating trade scenarios including over historical data, among other potential future areas of improvement to the new product.
Commenting on the new product release, TradAir CEO Illit Geller said: “TradAir NOW is driving FX platform profitability, volumes growth and effective risk management, by enabling firms to more competitively price, and profitably hedge FX flows.”
Also quoted in the official press release was Matthieu Mayran, of Google BigQuery, who added: “Extracting, analyzing and presenting the vast amounts of real-time data generated by trading platforms can be technically challenging. But TradAir’s solution makes this much easier, and helps their customers to gain deep insight from their trading data.”
The news follows the company expanding into Asia with its Singapore offices announced earlier in 2016, as reported by Finance Magnates.