Neovest launches  multi-broker algorithm management system

Neovest launches multi-broker algorithm management system

JPMorgan subsidiary Neovest has launched AlgoGenetics, a so-called multi-broker 'algorithmic management system' that enables buy side traders to centralise and manage over 100 unique algorithms from brokers and technology vendors.

Neovest says its AlgoGenetics platform provides traders with an "intuitive point-and-click" way to build their own execution sequence using existing algorithms in the market.

The trader can then manage the use of those algorithms based on variables such as price, time and order status, to access traditional exchanges as well as dark pools. For example, users can instantly switch from one broker's algorithm to another broker's algorithm if a market condition changes, says Neovest.

Carl Carrie, global head of algorithmic products, Neovest, says the system was developed in response to clients' requests for a better way to manage use of algorithms across venues.

"Our creation of AlgoGenetics, as an AMS, delivers that capability and offers the flexibility and control buy-side traders have been seeking," adds Carrie.

Bryce Byers, chief executive officer of Neovest, says AlgoGenetics is a "logical evolution toward creating, customising and improving the work flow for trading algorithmically".

The vendor says it expects to launch more enhancements and initiatives related to its new AlgoGenetics AMS platform in the coming months.

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