Goldman Sachs Electronic Trading upgrades execution management system

Source: Goldman Sachs

Goldman Sachs Electronic Trading (GSET) announced today the release of the latest version of REDIPlus, Goldman Sachs' award-winning execution management system.

The release of version 9.0 marks the first of two major releases in 2009, and brings clients significant enhancements to options trading and workspace usability features.

"With version 9.0, we continue to build on the key elements which have made REDIPlus successful. Our consistent focus on multi-asset strategies, global market access, and superior execution quality drives both our major product updates and our minor ergonomic enhancements," said Rishi Nangalia, Managing Director and global head of GSET Business Development. "These ongoing improvements help us meet the needs of our diverse client base."

The new options enhancements include the introduction of three new algorithmic strategies, the ability to auto-hedge options orders, and active limit support. The three new algorithms - Strike, Pegging, and Volatility Limit - bring the total number of advanced options strategies to seven. These algorithms also take advantage of existing SIGMA options smart routing functionality, through which over 70% of GSET electronic options flow is now executed. Options traders who upgrade to version 9.0 can also auto-hedge their orders, enabling them to automatically execute equity hedges in real-time as the option order is filled. Additionally, 9.0 offers options traders an Active Limit Support tool, a real-time graphical representation of a customer's floating limit price and executions relative to the current market.

Several ergonomic improvements help make the trading process more streamlined and user friendly. REDIPlus customers will now receive upgrade notifications, automatically alerting the user whenever a new version of the trading platform becomes available. Multi-currency order entry and monitoring enables customers to manage their global strategies more effectively. "Freeze panes" are the latest enhancement to the spreadsheet-like functionality embedded within REDIPlus, providing customers with a more flexible view and the ability to sort trade data.

"As clients increasingly employ portfolio trading strategies as an efficient way to manage their trading workflow, we continue to make significant enhancements to portfolio trading features within REDIPlus," said Nangalia. New list segmentation offers the ability to take sections of a portfolio trade list and break them into smaller, customized pieces, allowing for greater flexibility.

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