EdgeTrade, the independent, agency only broker and developer of algorithmic strategies and direct market access (DMA) software, today announced full integration of its algorithms with Advent Software's Moxy trade order management system.
On the heels of an announcement made by Advent last month with ten other brokers, the EdgeTrade partnership expands Moxy's capabilities by adding algorithms developed by an independent, agency only firm. Client firms of EdgeTrade, of which there are more than 150 in North America and Europe, include hedge funds, mutual funds, asset management firms and broker-dealers. Moxy is the industry's most widely used trade order management system, with more than 700 client firms worldwide.
"We are certain that Advent's Moxy clients will appreciate the significance of having access to our independent, agency only algorithms," said EdgeTrade CEO, Joseph Wald. "EdgeTrade fosters a consultative bond with clients, to ensure their trading objectives are being supported. As such, we will work with Moxy clients to construct highly specialized tools that help them trade a choice of styles – adapted to their specific trading goals – more effectively and efficiently. Whether it's customized or brand new algorithmic trading strategies, or high level training in the use of any electronic trading tool in our product suite, EdgeTrade understands that true value is derived by how well we consistently listen and respond to each trader. Traders share sensitive information with us as they trust that EdgeTrade's independent, agency only model will never compete against them."
EdgeTrade's overarching mission is to empower traders with an unconflicted, agency only model that offers high-speed and quality of anonymous execution, coupled with innovative trading technology.
"Our goal is to provide Moxy clients with a range of innovative tools from the sell-side," said Will Clemens, vice president of Advent's straight-through processing business line. "Integrating EdgeTrade's algorithms with Moxy will give our buy-side trading clients first-time access to algorithms developed by an independent, agency only broker and another option for trade execution."
EdgeTrade is gaining widespread recognition for its array of sophisticated algorithmic strategies, organically developed and customized for each client by the firm's quantitative team. Through Execution Management System (EMS), EdgeTrade's independent, agency front-end platform, institutional buy-side and sell-side traders place single stock and basket equity orders. A high-speed gateway to multiple execution venues, DMA order types, algorithmic trading strategies and low latency market data, EMS may be customized to each trader's screen specifications. While a holistic offering, EMS is modularly designed to give traders what they want and how. For instance, a trader may integrate EdgeTrade's algorithms into their own front-end rather than using EMS. As an open platform, traders have the option of connecting to EMS via FIX (Financial Information eXchange) or through other trading and order management systems. EdgeTrade's algorithmic strategies and direct market access order types are currently integrated with major industry trading and order management systems.