Goldman Sachs Electronic Trading (GSET), a division of banking group Goldman Sachs, has released version 9.0 of its REDIPlus execution management system (EMS) – the first of two major updates to the system that will take place in 2009.
One of the main changes in version 9.0 is the addition of GSET’s three new options algorithms – Strike, Pegging and Volatility Limit – which were announced in March. This brings the number of advanced options strategies on the platform to seven. The algorithms make use of Goldman Sachs’ existing SIGMA options smart routing functionality.
Users upgrading to version 9.0 of REDIPlus will also be able to auto-hedge their orders and make use of the company’s new Active Limit Support tool, a real-time graphical representation of a customer’s floating limit price and executions relative to the current market.
In addition to the new options trading functionality, GSET has improved REDIPlus’s user interface. Users will now receive upgrade notifications whenever a new version of the platform becomes available. Version 9.0 allows multi-currency order entry to facilitate management of global strategies. The company has also added a ‘freeze panes’ feature to the spreadsheet-like functionality embedded within REDIPlus, allowing users to sort trade data.
In addition, GSET has updated the portfolio trading features of REDIPlus. The new list segmentation feature allows users to take sections of a portfolio trade list and break them into smaller, customised pieces.
“With version 9.0, we continue to build on the key elements which have made REDIPlus successful,” said Rishi Nangalia, managing director and global head of GSET business development, in a statement. “Our consistent focus on multi-asset strategies, global market access and superior execution quality drives both our major product updates and our minor ergonomic enhancements.”