LatentZero signs eight brokers for algorithmic trading
09 December 2004 | 1609 views | 0
LatentZero, the leading provider of buy-side front office technology for global asset management, has teamed up with eight major brokers to provide access to their global algorithmic trading platforms for users of Minerva, its order management system.
The brokers are: Bank of America Securities, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs Algorithmic Trading, Lehman Brothers, Sanford Bernstein and UBS.
This means that users of the latest version of Minerva can take full advantage of the best low-cost, high transparency electronic execution services available on the market.
As well as providing direct access and algorithmic trading using the FIX protocol, Minerva version 3.5.1 will continue to offer all the current product benefits including 24X7 cross-asset order management and trading capabilities and real-time market data integration on trading blotters.
"This agreement with eight leading firms clearly puts Minerva on the map as the first choice system for algorithmic trading," said Dan Watkins, LatentZero's CEO, North America. "One of the reasons for this is that we have separated our support for new algorithms from our main Minerva development operation. The algorithms are soft-coded, which means new ones can be provided as they are needed. Once users have this latest version of Minerva, new algorithms can be integrated without the need for a software upgrade."
He added: "This is particularly important given the huge growth in algorithmic trading we are likely to see over the next year. Algorithms change extremely quickly and buy-side managers cannot afford to wait for system upgrades every time they want to add in new ones."
This latest development with Minerva is part of LatentZero’s drive towards complete execution management automation.
Minerva is part of Capstone, LatentZero's complete front office suite. Other elements of Capstone include: Tesseract, a decision support and order generation solution; and Sentinel, LatentZero’s pre- and post-trade compliance product.