Fidessa group (LSE:FDSA) the world leading provider of trading systems, market data and global connectivity, today announced that it has added three new execution algorithms to its BlueBox strategies suite in Canada.
The new algorithms, Invisible, Price Improvement (PI) and Shadow complement Fidessa's existing algorithms that include VWAP, TWAP, POV and Arrival.
The new algorithms are fully integrated within Fidessa's Canadian trading platform and available immediately. Each algorithm is designed to help drive trading performance through greater automation and lower transaction costs while finding liquidity in Canada's increasingly fragmented market.
Martin Hakker, EVP Marketing at Fidessa, comments, "Canada is the fourth region to go live with Fidessa's BlueBox algorithms following the US, Europe and Japan. This is testament to the scalability and integration capabilities of Fidessa's core architecture globally and the flexibility of the BlueBox framework that offers algorithmic developers a cost-effective, functionally rich, technical environment to efficiently develop, deploy and control proprietary algorithms."
The Invisible algorithm is an aggressive strategy designed to access all available liquidity within a trader's pre-defined price and size requirements. The algorithm will seek out market opportunities and automatically sweep displayed markets when triggered, while remaining hidden during unfavorable market conditions.
PI and Shadow are both passive pegging algorithms that maximize execution rates at the most favorable market prices. The algorithms utilize complex randomization techniques to minimize exposure to popular gaming practices.
Hakker adds, "As fragmentation continues to evolve and trade volumes rise, our Canadian clients are increasingly demanding advanced trading solutions for executing into the market. These new strategies enable our Canadian clients to optimally execute their order flow with both passive and aggressive strategies."
BlueBox enables firms to quickly move into the algorithmic trading space by leveraging Fidessa's industrial-strength algorithms within a hosted environmnvironment. Designed with maximum flexibility, BlueBox allows traders to build, run and control their own algorithmic trading strategies. They can track key performance indicators in real-time and step in to alter parameters on the fly, slow down or speed up trading, or pause or stop the algorithm to react to changing market conditions or to mitigate risk as well as use pre-, post- and intra-trade analytics to evaluate performance.
Fidessa's BlueBox suite includes both benchmark algorithms and execution algorithms that maximize liquidity access while minimizing market impact.