Goldman Sachs Electronic Trading (GSET) has released version 9.1 of its REDIPlus execution management system (EMS), which includes expanded options and futures trading capabilities.
The new version of REDIPlus also contains portfolio trading enhancements and enables users to integrate certain functions of the EMS with the Bloomberg Professional news and data and trade execution service.
Options traders will be able to use a new time-weighted average price (TWAP) algorithm, which has been added to the nine existing options trading strategies. According to GSET, the TWAP algorithm uses its Strike order type to minimise market impact while accessing liquidity.
REDIPlus users trading futures can now submit futures calendar spread orders from an order management system (OMS) via FIX. Strategy orders received via FIX can then be worked using all of the existing REDIPlus trading functionality, including algorithms.
Version 9.1 of REDIPlus will allow users trading portfolios of stocks to measure the performance of their list against historical benchmarks. This new function is offered in addition to the previously-available intra-day performance benchmarks.
By integrating with the Bloomberg Professional service, REDIPlus users will be able to launch Bloomberg screens from the EMS, and create custom ‘hotkeys’ that allow them to access Bloomberg Professional functions.
Additional functionality includes active limit options analytic charting, which displays a real-time graphical representation of a volatility- or delta-adjusted order limit price and executions relative to the market, and access to the SIGMA inter-listed router for US and Canadian equities, which scans US and Canadian markets for the most optimal place of execution.
“REDIPlus’ enhanced user-friendly interface and absolute flexibility help clients achieve their execution goals, whether they utilise algorithmic strategies for US listed options or trade portfolios of stocks across the European markets,” said Rishi Nangalia, managing director and global head of GSET business development, in a statement.