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HSBC chooses FlexTrade for equities trading

14 May 2002  |  4111 views  |  0 HSBC chooses FlexTrade for equities trading

HSBC Investment Bank has implemented FlexTrade System's equity dealing and order management system, FlexTrader, across its market neutral trading group.

FlexTrader is a user-defined system that mirror's a firms' and its individual traders' rules and restrictions. It writes and revises customised analytics and quantitative trading strategies within the system's rules-based framework.

HSBC's desk in London will initially use FlexTrader to implement quantitative strategies.

Paul Simpson, head of trading for HSBC's market neutral trading group, says: "FlexTrader is a completely configurable, automated trading system that gives us an edge in improving on execution costs and reducing slippage...The toolkit enables you to plug in your own algorithms and in essence, create a customised trading system."

FlexTrade is also reporting the opening of a new London-based office, to be headed by former GL Trade executive Bertrand Rassat. As managing director in London, Rassat is charged with building a FlexTrade client base in Europe.

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