Eyeing the booming market for algorithmic trading, Edge- Trade, a New York-based institutional agency broker, recently hung out a shingle saying that its direct-market-access technology now includes algorithms. The new algorithmic service is fully integrated into EdgeTrade's DMA trading system, according to the announcement in February. "We've got clients doing millions of shares a day on our algorithms," Joseph Wald, EdgeTrade's CEO, tells Advanced Trading.
Penson Financial Services Canada, a provider of execution, clearing, custody and settlement services, launched an online, hosted foreign-exchange trading system called Penson FX that provides traders with real-time access to competitive live prices on the global FX markets from their desktops. The system also offers traders the ability to execute trades on the provided price quotes instantly through Penson, with just a few clicks of a mouse.
The MuniCenter (TMC) electronic bond-trading platform released its new Montage page, which incorporates real-time trades from the Municipal Securities Rulemaking Board's (MSRB) price dissemination feed. The Montage page is a screen designed to give TMC users a live view of new offerings entering the market, new bids wanted that are posted to the market and all trades being posted to the market via the MSRB feed.