FutureTrade Partners With QSG for Transaction Cost Analysis
FutureTrade has formed a strategic partnership with Quantitative Services Group (QSG), allowing it to provide independent transaction cost analysis (TCA). Under terms of the agreement, FutureTrade, an independent provider of equity and option execution services, will deliver TCA based upon the QSG T-Cost Pro product as an integrated part of the FutureTrade platform.
Users of FutureTrade's trading platform will have integrated access to a series of transaction-cost dashboards combining graphics and cost factors. Each dashboard delivers a distinct trading cost perspective, allowing users to focus on the costs attributed to brokers, sectors, styles, destinations, liquidity or user-defined categories. Future Trade users can apply these independent transaction cost metrics to trades executed via their choice of ECNs, exchanges, broker algorithms or broker desks, according to the release.
"As our clients increasingly rely on us to route their trades to the algorithms and desks of various brokers, they have asked for the ability to analyze the relative performance of these execution destinations and for a way to use this information to make more informed trading decisions," stated Jim Kwiatowski, EVP, sales and marketing at FutureTrade in the release. "Our partnership with QSG allows us to respond to these requests with an integrated best-of-breed solution for order management, trading and transaction cost analysis."
FIX CITY Enhances IOI Feed for Buy Side
London-based FIX CITY announced the launch of its IOI FIX Feed, extending the service offering of ioinet, the company's existing indication-of-interest product. The IOI FIX feed enables buy-side firms to receive targeted and filtered IOIs from sell-side brokers directly into their FIX-enabled order management systems (OMS).
According to FIX CITY, its ioinet solution -- an independent supplier of IOIs and Trade Adverts (TAs) -- combines an easy-to-use interface with analytical and filtering tools for finely targeted IOI distribution, reducing data volumes and allowing dealers to focus on key stocks.
The latest enhancement to ionet is in response to demand for increased levels of automation as buy-side dealers seek to meet the growing volumes of broker information, according to FIX CITY.
The enhanced IOI FIX feed connects buy-side firms' FIX engines to the ioinet repository and refines incoming IOIs from sell-side firms according to the user's specifications. Selected IOIs are then routed to buy-side firm's OMSs. By feeding ioinet's IOIs through a comprehensive range of filters, the filters enable users to receive IOIs with specific attributes, for selected securities, geographies or sectors, according to the release.
BNY Brokerage Provides Algorithms via Bloomberg
BNY Brokerage has integrated its algorithmic trading tools with the Bloomberg Professional service, the company announced.
The integration allows Bloomberg users to access BNY Brokerage's proprietary algorithmic strategies directly through Bloomberg's Execution Management System (EMS) and control the individual parameters of each algorithm, according to the release. "Offering BNY Brokerage's algorithms through Bloomberg reflects our continued commitment to providing our buy-side clients with the widest range of tools, giving them flexibility and choice in how to work their orders," stated Carey Pack, president of BNY Brokerage Inc., in the release.
Clients also will benefit from the expertise of BNY Brokerage's trading and technology staff, which periodically evaluates the algorithmic tools to help clients minimize market impact and optimize their trade execution, the firm says. Bloomberg EMS reaches over 260,000 financial professionals in 125 countries.
Thomson TradeWeb Connects with Fannie Mae Discount Notes
Thomson TradeWeb is rolling out new technology that, for the first time, will enable institutional investors to directly access and trade Fannie Mae's Discount Notes online through authorized dealers via the online fixed-income trading network.
Adding primary offerings of Fannie Mae short-term securities broadens the range of functionality on the TradeWeb Agency Discount Note platform (ADN), said the company in a release. Institutional investors in the primary market can take advantage of the full range of TradeWeb's trading and straight-through processing capabilities by working with select dealers on TradeWeb.
"This functionality provides investors a significantly easier way to view and trade Fannie Mae Discount Notes with our dealer group," stated Robert Dolecki, director of short-term funding at Fannie Mae, in the release. "Additionally, the technology will increase the liquidity and transparency of our short-term securities."
Fannie Mae issues debt securities in the domestic and global capital markets to finance its mortgage purchases and other business activities.
Transaction volume on TradeWeb's and platform jumped in 20005 to $2.3 trillion, a 59 percent increase over the previous year. Over 70 percent of volume traded came from trades of $100 million or more, according to the release.