Patsystems AlgoServer has been developed to facilitate straightforward development and distribution of brokers' proprietary algorithms to customers, along with integration with Patsystems' Order Management System (OMS) for seamless management and execution of orders.

Patsystems' AlgoServer provides a framework for defining and developing algorithms for server-side implementation, including presentation of the algorithms as synthetic order types on the front-end.

AlgoServer includes all of the current functionality within Patsystems' existing Synthetic Order Management System (SyOMS) product, including Iceberg, Ghost and Bracket orders. All algorithms can be either independent or integrated with existing systems.

The current version of AlgoServer supports single-contract algorithms. In addition to support for proprietary algorithms, three standard algorithms will be available: time-sliced orders, "with a tick" orders, and OCO Limit Stops.

David Webber, Patsystems, said: "In line with our goal to provide fully customisable solutions, AlgoServer can be used as a standalone front-end or integrated with our existing Synthetic Order Management System (SyOMS). Traders can utilize AlgoServer's 'pre-packaged' algorithms or their own proprietary algorithms, all with maximum speed to execution."