Fidessa, a market data and trading solutions provider, has added three new execution algorithms to its BlueBox strategies suite in Canada.
The new algorithms – Invisible, Price Improvement (PI) and Shadow, are designed to complement Fidessa’s existing VWAP, TWAP, percentage of volume and Arrival algorithms.
The Invisible algorithm is an aggressive strategy designed to access all available liquidity within a trader’s pre-defined price and size requirements. The algorithm will seek out market opportunities and automatically sweep displayed markets when triggered, while remaining hidden during unfavourable market conditions. PI and Shadow are both passive pegging algorithms that aim to maximise execution rates at the most favourable market prices. All of the new algorithms use randomisation techniques to reduce exposure to gaming practices.
According to Fidessa, the new algorithms will help lower transaction costs and aid investors when finding liquidity in Canada’s increasingly fragmented marketplace.
“Canada is the fourth region to go live with Fidessa’s BlueBox algorithms following the US, Europe and Japan,” said Martin Hakker, executive vice president, marketing, Fidessa. “As fragmentation continues to evolve and trade volumes rise, our Canadian clients are increasingly demanding advanced trading solutions for executing into the market.
These new strategies enable our Canadian clients to optimally execute their order flow with both passive and aggressive strategies.”
BlueBox allows traders to build, run and control their own algorithmic trading strategies.
The new algorithms will be made available to Fidessa’s clients immediately.