US-based technology vendor InfoReach is to upgrade its TMS multi-asset order and execution management system with new FX connectivity and an improved suite of execution algorithms.
Available from 1 December, version 7.1 of InfoReach’s Trade Management System will connect clients to the services of foreign exchange dealers ICAP and Thomson Reuters. The move will bring the total number of FX platforms and brokers that connect to InfoReach to 15.
The new release of TMS also includes redesigned execution algorithms as well as a development environment to modify pre-packaged strategies.
For version 7.1, InfoReach has decided to expose a low-level application programming interface to let users write custom allocation strategies.
Additionally, InfoReach has updated the range of pre-built execution strategies that are bundled with the TMS platform, including improved algorithms, such as volume-weighted average price, time-weighted average price and arrival price.
Existing TMS product capabilities include trading of various security types as single instruments or baskets, order routing, pre- and post-trade allocations, automation of execution algorithms and real-time position monitoring. TMS, which is used by both buy-and sell-side market participants, can be installed on-site on as a dedicated or pay-as-you-use ASP basis.