Goldman Sachs Electronic Trading (GSET) announced today the release of the latest version of REDIPlus, Goldman Sachs' proprietary, award-winning execution management system.
The release of version 8.1 marks the second major release of 2008, and provides institutional clients with improved system performance and ergonomics, new algorithms, enhanced derivatives trading capabilities, and new ways to access SIGMA X dark liquidity.
"With the release of version 8.1 we continue to enhance the REDIPlus product to meet client needs," noted Rishi Nangalia, Managing Director and Global Head of Product Development, Goldman Sachs Electronic Trading. "Particularly in today's volatile, high-speed markets, we must continue to improve the features and ease-of-use of the platform."
Ergonomic improvements include customizable "skins," allowing users to alter the look and feel of their workspace, as well as a new labeling system for simpler use of the platform. Spark lines - an analytics tool that uses dynamic color schemes to indicate price movement in a given security - allow for more intuitive interpretations of market activity during trading. Additionally, a new window called the Transaction Monitor permits clients to intelligently organize their trade executions. The customizable window features pivot-style grouping based on user-defined signals about an order, and can be fully exported to a spreadsheet in a single-click.
Users of REDIPlus 8.1 will also be able to take advantage of key enhancements to the algorithmic trading offering. A new US and Canadian equity algorithm, called OptimIS, balances impact cost and price risk while sourcing liquidity from dark pools. Improvements to an existing algorithmic strategy, Dynamic Scaling, allow clients to trade using simpler parameters for easier order entry.
Derivatives traders will also benefit from REDIPlus version 8.1, which now offers analytics for trading European options. Additionally, Options traders have the ability to enter complex strategies using a single mouse click, clone their orders, and calculate implied Greeks and volatility based off the bid or ask.
Clients who upgrade to REDIPlus 8.1 will benefit from innovative new ways to take advantage of the liquidity in SIGMA X, Goldman Sachs' crossing network and the largest US dark liquidity pool (Tabb Group, 2008), averaging 318 million US shares per day. Two new features - SIGMA X-Cross and Block Signals - will help facilitate crossing for larger blocks of client orders. SIGMA X-Cross allows for single-stock and portfolio-level point-in-time crossing with constraints. Block Signals provides SIGMA X clients with an intelligent way to communicate and locate block crossing interest by using unique visual, audio, and text alerts within the REDIPlus trading platform.
The REDIPlus platform allows clients to trade equities, options, futures, foreign exchange and synthetics from a single application. Clients can use REDIPlus to access Goldman Sachs algorithmic strategies in the U.S., Canada, Europe and Asia. Additionally, clients can use REDIPlus to route orders through the SIGMA smart router and post orders directly to the SIGMA X crossing network. Clients trading baskets of securities benefit from integrated portfolio and spread trading functionality and an embedded suite of pre-, during, and post-trade analytics.