Royalblue (LSE:RYB), provider of Fidessa, today announced the European and Asian launch of BlueBox, its fully integrated, scalable algorithmic trading system.
Available in the US since last October, BlueBox provides easy access to pre-built, industry standard algorithmic strategies along with a toolkit for clients wanting to build their own proprietary models.
Built on Fidessa's pedigree technology, used by over 85% of global, tier-one equity brokers, BlueBox incorporates low-latency market data and global exchange connectivity, thus providing a proven, easy to deploy, cost-effective solution for brokers keen to enter the algorithmic trading space.
Philip Slavin, head of European product strategy at Fidessa, comments: "With BlueBox we have redefined the algorithmic market by lowering the financial barriers and complexities of algorithmic solutions. BlueBox enables brokers to operate their own algorithmic trading system without the need to tackle complex system integration issues."
BlueBox not only provides access to industry standard, out-of-the-box algorithms, including VWAP, TWAP, Arrival Price and Percentage of Volume, but also exposes its underlying framework to provide a functionally rich environment for developing and deploying proprietary algorithms for both equities and derivatives. As such, BlueBox also provides an easy to maintain architecture for brokers who already have an algorithmic solution in place, allowing them to re-focus on the development of their algorithmic models.
Slavin adds: "As competition grows, it's important that brokers have the flexibility to tailor standard algorithms for specific needs, and to differentiate their offering with the provision of their own bespoke models. BlueBox provides a high-level Java toolkit to allow them to do just that. Developers can design, test, validate and improve their models before releasing them into a live trading environment."
Additionally, BlueBox enables traders to monitor and manage their algorithmic trading performance from their existing OMS screens. With its unparalleled algorithmic management features, BlueBox enables traders, for oor the first time, to step in and adjust parameters on-the-fly when market conditions change, giving them ultimate flexibility and control.
"BlueBox allows traders to build confidence in their models prior to offering them to their clients. By extending their services to include customised algorithmic strategies, brokers can attract additional flow without the need to pay away commissions, thus retaining trading volume and giving them an even greater opportunity to differentiate themselves in a competitive marketplace," concludes Slavin.
BlueBox heralds the evolution of Fidessa's trading platform into an algorithmic management system (AMS) by offering algorithmic trading capabilities totally integrated with its order management system (OMS). Furthermore, BlueBox is suitable for any size of firm and delivers true straight-through-processing whilst facilitating compliance with regulations such as MiFID.
BlueBox is part of Fidessa's advanced trading suite which includes List Management, Wave Trading, Pairs Trading and analytics, all of which are built on and integrated with Fidessa's global, multi-asset trading platform used by over 10,000 users at around 320 clients worldwide.