FutureTrade Technologies, LLC signed a multi-year agreement to use Radianz's market infrastructure, RadianzNet, for connectivity to electronic-communications networks (ECNs) and its clients. FutureTrade will use RadianzNet to connect its tools for hedge funds and institutional traders to Archipelago, INET, RediPlus and others, which are among the 120 services offered by RadianzNet. FutureTrade will also use RadianzNet to provide its hedge fund and institutional clients with access to its electronic-trading-tools and services. Based in Lake Forest, Calif., FutureTrade provides electronic access to multiple trading venues and market information from one desktop workstation.
Rosenblatt Securities, an agency-only broker, went live with FlexTrader over the Linux operating system in October for trading listed and over-the-counter (OTC) securities on behalf of its money manager and broker/dealer clients. "As the markets evolve and continue to demand more complex trading strategies and time-slicing algorithms, FlexTrader will help us provide even better service to our transaction cost-sensitive institutional clients," states Richard Rosenblatt, Rosenblatt's President & CEO.
FlexTrader is a fully customizable system with pre-defined trading strategies and tactics for lists as well as single stocks. Rosenblatt is able to implement trading strategies by simply tweaking the VWAP (volume-weighted-average-price) and other algorithms offered by FlexTrader, states Joseph Gawronski, Rosenblatt's chief operating officer in the news release.
The firm picked FlexTrader from FlexTrade Systems after an analysis of other systems, citing its time-to-market needs without taxing its IT resources and its broker neutral platform as factors. Rosenblatt chose to run FlexTrader on Linux for the operating system's reliability, functionality and low cost.
MB Trading(MBT), a direct-access brokerage firm based in El Segundo, Calif., launched MBT Service Bureau in response to demand from broker/dealers seeking a new technology solution for their sell-side and institutional clients.
The first client using the service bureau is TradeFreedomSecurities, Inc., a Canadian broker providing direct-access trading for U.S. and Canadian equities and options to active traders, investors, broker/dealers and institutional money managers. MBT will offer its entire suite of products including MBTX, MBT Navigator, price server technology, FIX compliant order routing, risk-management tools, and SDK in a service bureau configuration to the financial services industry. In addition, MBT is offering a FIX gateway into its MBTX smart order-routing technologies for clients and firms seeking the use of that technology only.
Brut, LLC teamed up with Townsend Analytics (TAL) to offer TAL's RealTick market-data display and direct-access trading technology as an option for clients accessing the Brut ECN, according to its parent SunGard Brokerage Services. RealTick's platform offers quotes, advanced-charting-analytics, news, alerts, scanners and a variety of other features. Acting as a front-end into the Brut ECN, RealTick provides Brut's customers, including brokers and institutional investors, access via the Internet or dedicated connection to innovative order types available exclusively from Brut.
Brut " whose market share has more than doubled from four percent to nine percent over the past year" offers participation in SuperMontage and the Nasdaq InterMarket, and through the Brut Sponsorship Program, allows institutions to trade electronically while still maintaining their traditional brokerage relationships.
SG Corporate & Investment Banking(SG CIB), a division of Societe Generale, selected Traiana's Trading Relationship Management (TRM) software to beef up its global institutional sales capabilities. SG CIB licensed both Traiana's TRM and Harmony products to augment their foreign exchange offering to institutional clients, streamline trade operations and provide real-time analytics and reporting. The initial rollout of SG CIB's TRM project will be based in New York. TRM improves client service and automates the post-trade through settlement lifecycle, while Harmony works in conjunction with Traiana TRM to streamline FX give-up trades between prime brokers and executing brokers.
In addition, Traiana announced an expanded European presence to support its growing customer base for the Triania Harmony product. With two new banks joining this week and four banks going into production, this brings the total number of participants to 10 prime brokers and 12 executing banks.