Albert Fried & Company (AFCO), a US self-clearing broker dealer, has formed a joint-venture trading technology company with Bon Trade Solutions, a provider of electronic trading tools and market connectivity.
The new firm, Market Optimization Technologies, will provide trading technology products and services to the buy- and sell-side, including low latency automated trading strategy development and implementation for quantitative asset managers.
Other services the company plans to offer include a suite of algorithmic tools, execution management strategies for buy-side and sell-side firms, and a dark crossing system that will clear through AFCO.
In addition, AFCO will add several Bon Trade front-end solutions to the list of execution systems it offers to clients. These include Pro EMS, an equity and options execution platform and BTS Access, a web-based trading application.
“This turn-key approach to electronic strategy development and deployment for asset managers, when coupled with AFCO’s self-clearing infrastructure, will provide a complete offering for confidential and anonymous low-latency automated trading,” said Scott Carotenuto, managing director at AFCO, in a statement.