FlexTrade has integrated Tradefeedr’s FX pre-trade forecast data into its multi-asset platform, FlexTRADER EMS, to deliver enhanced data-driven workflows.
The development is said to meet demand from FX traders to access unique data sets to improve transparency, embed it to operationalise workflows to enhance trade decision-making, and guide the trading process holistically.
Tradefeedr’s data analytics API provides a link to a global FX data set, which helps bolster transparency in pre- and post-trade, alongside allowing FX desks on the buy-side to make better informed trading decisions.
The new offering unifies standardised, aggregated trading data to be analysed in one place, whether executed by algo or risk transfer.
Tradefeedr’s peer universe data can also be leveraged to enable clients to assess the performance of their execution algos in comparison to the industry, which can help identify the best algorithms and execution styles that align with market conditions, risk profiles and other industry parameters.
“We are now moving into the next stage in the evolution of accessible and actionable FX data, where buy-side trading desks can make data-driven decisions based on global data sets,” said Balraj Bassi, co-founder and chief executive of Tradefeedr.
“For years, acquiring, aggregating, and using big data has been a challenge – this is no longer the case. Tradefeedr’s new data API changes this, delivering FX traders the information they need to optimize trading execution and outcomes.”
The integration of Tradefeedr’s new API within FlexTRADER EMS offers pre-trade insights including when to RFQ, understanding algo performance and which to select, and how to manage RFQ panels.
In addition, the integration will allow trading teams to leverage the data and analytics to create automation that triggers workflow through FlexTrade’s AlgoWheel.
“[This] move is in response to the increased demand for advanced, comprehensive FX analytics from our multi-asset client base to deliver innovative and actionable pre-trade data tightly integrated within their order blotter,” said Andy Mahoney, managing director, EMEA at FlexTrade Systems.
“Having the data available in this way can help optimise trading decision-making and enable traders to efficiently handle low-touch orders by applying automation via our FlexAlgoWheel solution.”