Trading software provider Fidessa LatentZero now offers access to algorithms from brokers Royal Bank of Canada, Instinet, Knight/EdgeTrade and DnB NOR Capital Markets via its Minerva order and execution management system (OEMS). Following the additions, Minerva
users can access algorithms from more than 20 major brokers worldwide.
Grant Suttie, programme manager for investment management firm Martin Currie, a Fidessa LatentZero user, said: “The ability to send orders to a wide range of algorithm providers greatly enhances our ability to achieve best execution, access alternative liquidity and is a vital step in dealing with ever increasing trade volumes.”
Fidessa LatentZero said it intends to expand its algorithm coverage geographically and by asset class, as well as increasing access to algorithms offered by mid-tier brokers.
“The integration of additional advanced algorithmic trading strategies will grant clients of Fidessa LatentZero increased trade efficiencies and cost effectiveness in their trade execution,” said Meaghan Mullins, managing director of electronic services at Knight Capital Group, in a statement.
The algorithms currently integrated into Minerva OEMS cover all regions, and offer standard strategies such as VWAP, TWAP and percentage of volume (POV), as well as advanced algorithmic technology such as smart order execution strategies. Minerva OEMS also provides access to more specialised proprietary offerings from ABN AMRO, Bank of America, BNP Paribas, Citigroup, CA Cheuvreux, Credit Suisse, Deutsche Bank, Fidelity Brokerage, Goldman Sachs, ITG, Jefferies, JP Morgan, Merrill Lynch, Morgan Stanley, Sanford Bernstein and UBS.
The firm says 17 clients are using algorithms available through Minerva OEMS, and a further five are planning on installing the system over the next few months.