TraderBot, a Los Gatos, Calif.-based trading applications vendor, has gone live with TraderAlert--a real-time, Internet-based analytics engine targeted at fund managers, brokers and market makers. Simultaneously, the vendor is getting prepared to roll out FIRE, its newly developed intelligent order-routing engine. TraderAlert, launched two weeks ago, has already snagged one client; FIRE, which is expected to go live sometime this quarter, will initially be distributed to clients of established trade order management (TOM) system vendors.
Scott Gietler, vice president of business development at TraderBot, says that a handful of traders and portfolio managers at the Active Trading Network (ATN) are currently using TraderAlert. Via TraderAlert, ATN--a broker that provides discount-trading services to individual investors--is providing its staff with real-time trading alerts for U.S. stocks. Those alerts, says Gietler, are generated based on criteria entered into the analytics engine by ATN's staff.
Right now, TraderAlert provides real-time streaming alerts for U.S. stocks only. However, in the near future, TraderBot expects to expand TraderAlert to include coverage of international equities and options, says Gietler.
Though he declines to specify any clients outside of ATN, Gietler says that several are performing beta tests of TraderAlert. Similarly, Gietler refuses to pinpoint any potential clients of FIRE, but says that TraderBot is currently holding partnership/integration talks with multiple TOM vendors.
At first, TraderBot will seek to build FIRE's client base with whichever TOM suppliers it teams up with. But the firm also plans to license FIRE directly to Wall Street firms that would like to incorporate intelligent order-routing capabilities into their internally developed order management systems.
Regardless of what type of firm TraderBot recruits to use FIRE, the vendor will offer clients the power to integrate its order-routing engine with their own platform. Such integration will be made possible via TraderBot's flexible application programming interface, says Gietler. In fact, he says that through its API, TraderBot will be able to "easily" integrate any of its products with any external "trading system or market data vendor product."
SUReTick, a real-time, tick-by-tick database that serves as the backbone of TraderBot's technology architecture, drives both FIRE and TraderAlert. "SUReTick is the base platform. On top of that is the API, and than on top of that are all of our different products," explains Tejpal Chada, founder and CEO of TraderBot.