Bulge-bracket broker Goldman Sachs has released the latest version of its execution management system (EMS), REDIPlus, which allows clients to trade equities, options, futures, foreign exchange and synthetics through a single access point.
The new version, 10.2, features an improved, more customised spread trader interface designed for relative value strategies, expanding global algorithmic offerings and a new hub toolbar that strengthens alerts by giving users the ability to filter by content type and status.
The offering's smart routing functionality allows users to access liquidity across Canadian markets using the broker's Stealth, Sonar and Sonar Dark algorithms for both Canadian and dual listed stocks. Clients can use REDIPlus to access algorithmic strategies in the US, Canada, Europe and Asia. They are also able to use the EMS to route orders through the Goldman Sachs smart order router and post orders directly to the firm's SIGMA X crossing network.
The update also adds workspace zones to enable users to quickly switch back and forth between different asset classes, for example, as well as historical benchmarking and wave update improvements. Furthermore, users can launch portfolios of stocks directly from the EMS's Position Monitor. For example, the client can select 50 stocks in the Position Monitor, right-click, and those 50 names will be loaded in REDIPlus's Portfolio Trading window, ready for basket trading. In addition, user-defined profit and loss (P&L) marking allows clients to adjust the way profit and loss is struck on an asset class and side basis. For example, for options long positions, users can choose if they wish to see their P&L struck to the bid, mid, or ask.
“We are trying to improve the experience of the end user,” said Rishi Nangalia, managing director and head of REDIPlus EMS. “Among the several enhancements, the latest version enables our clients to take advantage of relative value trading strategies and simpler workflows.”
He added that the platform would continue to be updated with incremental improvements that, while small individually, would help make each version more well-rounded, more consistent and easier to use.