US-based trading technology provider and agency brokerage ConvergEx has released its RealTick 11 execution management system (EMS), which has been designed to help traders to benefit from cross-asset trading opportunities as well as accessing new markets and new algo trading strategies.
RealTick 11 includes the firm’s new cross-asset class strategy server and rules-based order routing engine. The strategy server allows users to use spread and pair orders themselves, manually configuring the settings and risk levels across markets, brokers and broker algos. The rules-based order routing engine lets users define the parameters to automatically route orders to their desired destinations, via their preferred routes.
The EMS also introduces a streamlined interface to make trading options easier, better connectivity for trading futures and a wider set of futures and future options contracts available for trading. New market data has also been added for Canada, covering alternative venues Alpha, Chi-X, Omega, Pure and TMX Select.
RealTick plans to roll out direct market access and smart order routing for the Toronto Stock Exchange, and is expanding the level 2 display for Canadian markets. Depth of book data is also being added for Brazil’s BM&F futures market and South Africa’s Johannesburg equity and futures markets.
ConvergEx RealTick CEO Stuart Breslow explained that the EMS would give users the chance to trade different assets against each other, for example exchange-traded funds versus futures, equity versus options, equity versus futures, etc. This could provide useful opportunities for arbitrage, he said, allowing users to compare valuations on different assets against each other and take appropriate hedging positions.
“We are pulling together all the aspects a trader needs – positions, balances, orders, news flow and prices – into one consolidated platform, making it far quicker and easier to make the trading decisions they need,” said Breslow.
The new version of the EMS also allows traders to cancel orders even when they are away from their desks, using mobile technology including iPads, iPhones and smart phones.
ConvergEx Group launched Spectrum, a new algorithm designed to give portfolio traders the benefits of executing in the dark while maintaining cash and sector balances, in October 2011. The firm also upgraded its global liquidity-seeking algo, Darkest, to bring together European and Asian dark liquidity in a single order, in September 2011.