FlexTrade Systems, a global leader in broker-neutral, multi-asset execution and order management systems, today announced a partnership with Nyse Technologies, the commercial technology division of Nyse Euronext (NYX), to provide exchange market data clients with direct access to FlexEdge, its predictive analytics platform offering advanced forecasting capabilities for trading U.S. equities.
FlexEdge supplies intraday volume forecasts for use by sell-side and buy-side institutions. These volume forecasts represent a substantial improvement over traditional volume estimation techniques and can help clients manage slippage costs, improve order sizing, and reduce VWAP tracking error.
"Predictive analytics is a relatively new forecasting tool for the electronic trading space," said Vijay Kedia, president and CEO of FlexTrade. "With this partnership, clients of NYSE Technologies can now gain access to intra-day volume forecasts for 3,000 equities and ETFs, thus giving them a possible edge in managing their trading executions."
"FlexTrade joins us at the forefront of innovation by supporting the new industry standard OpenMAMA and placing our products on an open, multi-vendor market data platform," said W. Todd Watkins, Global Market Data, NYSE Technologies. "Through this collaboration, we are able to provide customers with a market data solution that helps them formulate more effective trading techniques."
FlexEdge Features (available via NYSE Technologies)
• Intraday bin volume, enhanced volume profile, and end-of-day volume forecasts.
• Forecasts for 3000 U.S. equities and ETFs every minute.
• The ability to use forecasts algorithmically, visualize graphically, or display on the blotter.
• Cuts volume forecast error 20-25% compared to the historical average across the top 3000 equities.
• Helps manage and reduce slippage.
• Provides volume profile forecasts that improve VWAP tracking error 7-10% vs. historical curves.
• Provides access to continuous improvements in methodology driven by ongoing research.