Trading technology provider Neovest has launched AlgoGenetics, a piece of software that the firm describes as a multi-broker algorithmic management system (AMS). The platform enables buy-side traders to centralise and manage more than 100 unique algorithms from brokers and technology firms, says the firm.
"There are many products in the market today that claim to make improvements to the trading process, but they also require a change in trading style," says Bryce Byers, chief executive officer, Neovest. "AlgoGenetics is a logical evolution toward creating, customising and improving the workflow for trading algorithmically," he continues.
Neovest says AlgoGenetics allows traders to build their own execution sequence using existing algorithms in the market. The trader can then manage the use of those algorithms based on variables such as price, time and order status, to access traditional exchanges as well as dark pools. For example, using AlgoGenetics, a trader can instantly switch from one broker's algorithm to another if a market condition changes, says the firm.
Neovest expects to launch more enhancements and initiatives related to its AlgoGenetics AMS platform in the coming months.