Goldman Sachs
The REDIPlus trading platform allows eligible clients to trade across different markets and asset classes, including equities, futures, options, FX and synthetics.
Clients can access algorithmic strategies in the US, Canada, Europe and Asia, and can cross their orders in Goldman Sachs’ SIGMA X crossing network.
Traders also have access to the firm’s integrated portfolio and spread trading functionality, its suite of pre- and post-trade analytics and its integration with clearing and prime brokerage services.
REDIPlus integrates with order management systems, execution notification processes, position keeping systems, back-office systems, risk management systems and market data applications. The Goldman Sachs Electronic Trading (GSET) Connect team regularly consults with and helps clients with these integrations.
REDIPlus is free of charge to Goldman Sachs clients, though market data fees may apply.
Asia-specific features
REDIPlus accounts for market microstructure across Asia, showing appropriate tick sizes, lot sizes, start and end times, etc. for orders.
GSET Asia has dedicated, multilingual support teams in Hong Kong, Singapore and Tokyo, with extensive overlaps with US and European offices to provide ‘follow-the-sun’ support. REDIPlus is also offered in Chinese, Korean and Japanese language versions.
Connectivity and access
GSET connects clients to most exchanges globally and selectively connects to alternative execution venues if it deems them beneficial and suitable for clients.
REDIPlus offers access to dozens of brokers’ algorithms in the US and Europe and will soon roll out this functionality in Asia.
Users can access the EMS via FIX and the GS Windows application programming interface (ActiveX and DDE).
Algorithm support
Onboarding and updating broker algorithms is performed by GSET Connect FIX teams in each region and is driven by client demand.
Transaction cost analysis
REDIPlus’s integrated Pre- Trade Workstation shows expected costs, risks and trade durations based on the trader’s urgency level. Realtime data and alerts indicate when market conditions may make an algorithm behave differently than expected.
The system also offers during-trade analytics within trade management windows, exporting of baskets to Goldman Sachs’ portfolio trading pre-trade reports, and sends trades to the firm’s transaction cost analytics reporting infrastructure.
Other services
Electronic trading ‘teach-ins’, custom algorithmic configurations, post-trade evaluation and execution consultancy.
Planned updates
As well as adding multibroker algorithms to REDIPlus in Asia, Goldman Sachs also plans to offer enhanced single stock pretrade analytics, options Bloomberg symbology, pairs/ ratio trading in REDI Portfolio Trader, and more.