FlexTrade Integrates Tradefeedr
Posted by Colin Lambert. Last updated: September 13, 2023
FlexTrade has integrated FX data analytics provider Tradefeedr’s pre-trade forecast data into its multi-asset EMS FlexTrader EMS.
The firm says the move comes as demand is increasing for unique big data sets to improve transparency, that can be embedded to operationalise workflows and optimise trade decision-making while guiding the overall trading process.
Tradefeedr’s new solution brings standardised, aggregated trading data into one place to be analysed, whether executed by algo or risk transfer (RFQ or RFS). Its peer universe data allows clients to assess the performance of their execution algos compared to the industry and facilitates the identification of the best algorithms and execution styles that align with market conditions, risk profiles, and other industry parameters.
The firms say using Tradefeedr’s API within FlexTrader EMS, benefits clients in two key areas. Firstly, it can help to offer pre-trade insights on a range of topics, including when to RFQ, understanding algo performance and which to select, and how to manage RFQ panels, all to demonstrate a good execution process. For example, a trader can ask what the risk transfer price is on a trade and who is the recommended broker to execute with based on order characteristics.
Secondly, trading teams can leverage the data and analytics to create automation that triggers workflow via FlexTrade’s AlgoWheel. This means deterministic actions can be automated, for example, if the risk transfer price is less than Tradefeedr’s pre-trade cost, it can be routed automatically and be executed against RFQ or streams.
“We are now moving into the next stage in the evolution of accessible and actionable FX data, where buy-side trading desks can make data-driven decisions based on global data sets,” says Balraj Bassi, co-founder and CEO of Tradefeedr. “For years, acquiring, aggregating, and using big data has been a challenge – this is no longer the case. Tradefeedr’s new data API changes this, delivering FX traders the information they need to optimise trading execution and outcomes.”
Andy Mahoney, managing director, EMEA at FlexTrade Systems, adds, “This move is in response to the increased demand for advanced, comprehensive FX analytics from our multi-asset client base to deliver innovative and actionable pre-trade data tightly integrated within their order blotter. Having the data available in this way can help optimise trading decision-making and enable traders to efficiently handle low-touch orders by applying automation via our FlexAlgoWheel solution.”