Icap launches algo trading platform

Source: Icap

Icap Equities, the global agency broker, announced on Tuesday that it has launched its algorithmic trading platform Icap ALX and is beginning the process of onboarding clients.

The platform, developed together with execution technology and algorithmic strategies provider, Arctic Lake Systems, is operational and is scheduled to be delivered to ICAP Equities' client base in Q1 2010.

With ICAP ALX, ICAP Equities will deliver a range of trading algorithms at a new level of sophistication to its rapidly growing client base.

Phil Hodey, Head of Portfolio and Electronic Execution, ICAP Equities, says: "In today's market, our clients require sophisticated algorithmic trading solutions directly on their desktop. ICAP Equities is creating a flexible suite of tools for traders and the infrastructure critical for providing a premier level of service. "

Niels Buhl, founder and CEO, Arctic Lake Systems, comments: "The launch of ICAP ALX represents the culmination of a significant period of dedicated development for Arctic Lake Systems and ICAP. The ICAP ALX execution and algorithmic trading strategies solution has a sophisticated infrastructure that makes it unique in functionality, performance and flexibility. This partnership bears testimony to the superiority of the offering, the flexibility of our team, and our shared ambitions to provide the market with a first-class algorithmic trading solution."

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