FutureTrade, a leading independent provider of electronic equity and option execution services, today announced the latest upgrade to its popular trading platform, FutureTrade Version 3.3.
FutureTrade has added new analytical features, algorithms and sources of electronic liquidity to the platform to enhance its position as a leading independent provider of electronic trading services.
Version 3.3 upgrades include:
- BLOCK algorithm which scans ECN's, exchanges and most block-crossing ATS's to deliver executions which meet a user's minimum share requirement while avoiding the market impact associated with breaking large block orders into many smaller executions. The market is continuously monitored for potential block executions, within the user defined price tolerance and urgency level, without ever displaying the user's order.
- BUYBACK algorithm which allows users to execute corporate buy-back orders using a sophisticated volume weighting methodology while remaining in compliance with the Timing, Price and Volume conditions of Rule 10b-18.
- VOLPART algorithm which allows users to participate with market volume by specifying the percentage of the volume they wish to be during a specified period.
- Integrated Transaction Cost Analysis providing actionable information on the quality of executions which can easily be accessed and analyzed by sector, individual security, broker, algorithm and trading venue. Independent transaction cost analysis is provided through a previously announced partnership with Quantitative Services Group.
- Integrated Commission Management providing firms with sophisticated broker review, voting and commission management capabilities. Clients may review side-by-side comparisons of commission payments calculated by the FutureTrade platform versus planned allocations, set and track soft dollar commission targets, and generate and transmit sell-side broker performance reports. Independent commission management is provided through a previously announced partnership with Cogent Consulting.
- Enhanced multi-broker capabilities enabling users to direct orders to their choice of various broker algorithms or desks.
"The adoption of electronic trading continues to accelerate and our buy-side clients are looking for tools which allow them to implement their investment strategies more effectively across all trading counterparties and measure their results," said Mr. Jim Kwiatkowski, Executive Vice President of FutureTrade. "By providing integrated access to the brokers, algorithms and electronic venues which our clients demand as well as independent Transaction Cost Analysis and Commission Management, we enable our clients to manage their brokerage relationships, direct orders and measure execution quality so that they can demonstrate a best execution process."