Bley Investment Group, a Fort Worth, Texas-based broker-dealer, has signed on to use EdgeTrade's Quantitative Service Bureau (QSB). EdgeTrade, an independent agency-only broker and developer of algorithmic strategies and direct-market-access software, launched QSB last fall. The service enables institutional broker-dealers - in particular boutique, minority-owned and research-driven firms - to leverage innovative technology, integration tools and services developed by and offered through EdgeTrade, according to a company release.
"In a post-Reg NMS world, brokers of all sizes will need to adhere to best execution and related compliance requirements that QSB can facilitate," said EdgeTrade CEO Joseph Wald in the release. "Some broker-dealers are ceding too much ground to bulge-bracket firms because they lack the resources to develop sophisticated trading and execution tools. QSB can help them stave off the competition and, most importantly, deliver greater trade execution value to their buy-side clients."