New York-based broker Lime Brokerage and open-source software provider Marketcetera have teamed up to offer a platform enabling buy- and sell-side firms to create and deploy their own automated equity trading strategies.
Under the arrangement, Lime Brokerage will offer Marketcetera’s Automated Trading Platform alongside its own high-throughput, low-latency trading solutions.
The Automated Trading Platform integrates market data for price discovery, automated analysis and trade execution using a client’s proprietary black-box trading logic. Marketcetera’s platform allows brokers and traders build automated trading systems, develop proprietary algorithms, create order management solutions and manage risk.
According to the two firms, using Marketcetera’s platform will enable faster design and implementation of strategies than traditional proprietary trading solutions, and support equity traders that require highly-scalable technology solutions to support high-frequency trades across all venues.
“There is a tremendous wave of innovation and creation on Wall Street right now,” said Graham Miller, co-founder and CEO of Marketcetera, in a statement. “As the evolution of equities trading undergoes this transformation, we’re seeing seasoned veterans opening up new shops. They don’t want to use the same limiting technologies that are slow to move and beyond their budget; they need to leverage faster, open trading solutions to move with the ebb and flow of the market.”