Royalblue, provider of Fidessa, has launched BlueBox, its algorithmic trading system, in Europe and Asia. Available in the US since last October, BlueBox aims to provide easy access to pre-built, industry standard algorithmic strategies along with a toolkit for clients wanting to build their own proprietary models. “With BlueBox we have redefined the algorithmic market by lowering the financial barriers and complexities of algorithmic solutions,” says Philip Slavin, head of European product strategy at Fidessa. “BlueBox enables brokers to operate their own algorithmic trading system without the need to tackle complex system integration issues.”
BlueBox provides access to industry standard algorithms, including VWAP, TWAP, Arrival Price and Percentage of Volume, but also helps users develop and deploy proprietary algorithms for both equities and derivatives.
“As competition grows, it’s important that brokers have the flexibility to tailor standard algorithms for specific needs, and to differentiate their offering with the provision of their own bespoke models,” adds Slavin. “BlueBox provides a high-level Java toolkit to allow them to do just that. Developers can design, test, validate and improve their models before releasing them into a live trading environment.”
BlueBox also aims to enable traders to monitor and manage their algorithmic trading performance from their existing OMS screens.
“BlueBox allows traders to build confidence in their models prior to offering them to their clients,” continues Slavin. “By extending their services to include customised algorithmic strategies, brokers can attract additional flow without the need to pay away commissions, thus retaining trading volume and giving them an even greater opportunity to differentiate themselves in a competitive marketplace.”
The BlueBox algorithmic management system (AMS) is fully integrated with the Fidessa order management system (OMS). The company says it can also facilitate compliance with MiFID.