Technology vendor Townsend Analytics’ RealTick execution management system has added investment bank Goldman Sachs to its international multi-broker network, allowing clients to access the bank’s electronic trading functionality.
As well as a range of 13 algorithms from Goldman Sachs Electronic Trading (GSET), clients will be able to access the bank’s sales traders and SIGMA X crossing networks via Goldman’s smart order router. RealTick clients have already started to connect to GSET via the EMS.
“In the current environment, our buy-side clients have increased their focus on looking at ways they can trade easily and efficiently with multiple brokers in order to optimise their execution performance,” Rustam Lam, director, Townsend Analytics, told theTRADEnews.com. “While some brokers have their own EMS platforms, a neutral, hosted platform helps traders to consolidate their desktop requirements and lower internal support and training overheads, while being able to take advantage of advanced workflow tools to send multiple orders to their key counterparts in one click.”
GSET joins Bank of America Merrill Lynch, Barclays Capital, BNP Paribas, BNY ConvergEx, CA Cheuvreux, Citigroup, Credit Suisse, Instinet, JP Morgan, MF Global, Morgan Stanley, Nomura Securities, Societe Generale, and UBS, as a provider of electronic trading functionality on RealTick.
RealTick recently upgraded its multi-asset class functionality, with enhanced single stock and list trading functionality and options trading enhancements. New features include advanced benchmarking, industry sector management, dynamic navigation tools and advanced options spreads trading capabilities.
As well as improving the buy-side trader’s workflow, Lam believes these upgrades help to stay in tune with the changing nature of trading practices.
“Centralised dealing desks are increasing their use of cross-asset trading, so they need the tools to look at contingent and conditional trades across asset classes and link them together, to minimise potential hedging slippage, or capture the full opportunity in a cross asset strategy,” added Lam. “From a multi-asset perspective, it is also important to be able to tailor trading practices to specific asset classes, in terms of order entry tickets, depth of book and market data.”
Townsend Analytics is a wholly owned, independently-operated subsidiary of Barclays Bank.