Townsend Analytics announced it has added Thomas Weisel Partners' Weisel Execution Services' (WES) proprietary algorithms and equities execution services through its RealTick execution management system.Buy side users will be able to directly route U.S. equity order to WES for execution, as well as direct access to the firm's VWAP, TWAP, Arrival Price, Volume Participation, Get It Done, Small Cap, Closing Price, SPY and customer strategies algorithms.
"Depending on their relationships, traders have the ability to access the broker algorithms seamlessly," says Thomas Kim, managing director and global head of trading services at Townsend Analytics. "It's as simple as choosing a broker from a drop down, seeing their algorithms and strategies within the algorithms, playing with the criteria and out they go."
He adds that the traders have a consolidated view of their orders and algorithm routing in the RealTick blotter. "It's our way of handling multi-broker relationships, to make sure it's transparent for the trader as he is using multiple brokers," Kim adds.
Kim says that RealTick has been integrating broker/dealer algorithms and services steadily over the past six months and will continue to add firms according to client need. At last count he says there are at least 10 to 12 newly integrated broker/dealer algorithms within the RealTick platform, with more to come.
"We're looking to be more than just a vendor or service provider, we're looking to be partners with our broker/dealer clients as well as our buy side clients," says Kim. "When we take the time to do the integration such as an algorithm or broker content like analytics, we'll also work with them to drive whatever collateral or training they will need."