Source: FutureTrade
FutureTrade, a leading independent provider of integrated electronic equity and options execution services, announced today the release of the latest upgrade to its popular trading platform.
FutureTrade Version 2.2 includes four new algorithmic trading capabilities demanded by many sophisticated buy-side traders. VWAP allows a trader to define criteria such as start time and end time, as well as how aggressive to be in executing the order quantity while targeting the volume weighted average price. LIQUIDITY(tm) automatically routes orders to the best source of market liquidity based upon user selected criteria; and SLICER(tm) allows a trader to enter an order for a large block of stock and to define parameters for how the order should be "worked", including the average size of each slice and the time to wait between slices.
The ARCA NOW order type allows traders to send an IOC (Immediate or Cancel) order to ARCA first and then have it delivered sequentially to all other available venues for the unfilled balance of the order. These trading strategies offer cost-effective solutions to common trading challenges and augment the AES algorithmic trading capabilities offered by FutureTrade based upon its previously announced relationship with CSFB.
"Traders are under more pressure than ever to achieve the best execution at the lowest price for their investors and FutureTrade continues to deliver best-of-breed tools to enable traders to perform," said Jim Kwiatkowski, executive vice president of sales and marketing at FutureTrade. "Many of our clients have been requesting integrated access to algorithmic trading and with this release we combine the industry leading AES algorithms with the advanced trading capabilities offered by FutureTrade based upon input from our own clients."
"We have been using FutureTrade for over a year now and each new innovation they add to the system allows us to direct more and more of our electronic trading there," said Vinnie Agosta, CEO of Trading LLC. "The upgrades make the system and us more efficient as a trading desk."
Also included in this release of the FutureTrade platform are two-way integrations with the three leading Order Management Systems (OMS) - Charles River Development, Macgregor and Eze Castle and options trading enhancements requested by their growing customer base of active options traders. Options trading enhancements include user defined views by strike price and by month to enable even faster selection of a particular contract, integrated average price calculation and further integration with the equity trading capabilities.