RealTick, the multi-broker, cross-asset execution management system (EMS) from trading technology provider Townsend Analytics, has added Knight Capital’s algorithms to its platform.
Knight will also become the latest broker to upload its algos to the EMS using FIXatdl, the standard language developed by FIX Protocol Limited designed to accelerate the implementation of broker algorithms into trading systems.
RealTick users will now have access to Knight’s EdgeTrade algorithmic strategies, including its liquidity seeking and smart order execution strategies FAN and Oasis, for trading in the US, Canada and Europe. Clients will also have access to Knight’s smart order router and Knight Link, the broker’s internal crossing network.
Knight purchased EdgeTrade, an agency-only trade execution firm, to enhance its algorithmic offering in 2007.
“The integration of our latest algorithmic execution capabilities in RealTick provides us with a platform to service both sell-side and buy-side clients with market access and deeper liquidity as an agency broker,” said Joseph Wald, managing director, Knight Direct, the electronic trading unit of Knight Capital, in a statement.
“Our aim at RealTick is to provide clients with rapid access to the widest network of brokers and their electronic products globally, and using FIXatdl we are able to achieve this integration in a timely manner.” added Michel Finzi, global head of business development, RealTick.
Knight joins the list of brokers that offer their algorithms on RealTick, which includes Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs, Instinet and UBS.