Will you have Fries with that algorithm? LOL
Tuesday October 25, 1:32 pm ET
NEW YORK--(BUSINESS WIRE)--Oct. 25, 2005--BNY Brokerage Inc., a subsidiary of The Bank of New York and member of BNY Securities Group, has begun offering FlexTRADER linked to DEx, a hosted program trading application that provides direct market access to major sources of liquidity, as well as a full range of algorithmic trading options. DExSM is BNY Brokerage's direct execution platform.
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This new offering brings a full array of algorithmic trading capabilities to DEx and can be easily deployed on clients' desktops without any hardware installation. Trading algorithms include off-the-shelf pairs, risk-arb, long/short, VWAP, PWAP, benchmark and minimum market impact strategies.
FlexTRADER linked to DEx provides BNY Brokerage's buy-side clients with increased speed, quantitative capabilities and integrated end-to-end functionality, including pre-trade cost estimation, smart order routing, real time risk management, execution algorithms, quantitative trading strategies, real time access to full depth of book, and transaction quality management. FlexTRADER is a broker-neutral algorithmic trading platform developed by FlexTrade Systems Inc.
Carey S. Pack, president of BNY Brokerage, said, "FlexTRADER linked to DEx is a key development in our relationship with FlexTrade and complements our DEx suite of direct market access capabilities, providing our clients with the most advanced algorithmic trading tools available without requiring a major IT investment on their part. We are committed to enabling our customers to take control of as much of their trading as they wish, even as we continue to provide expert broker assistance whenever it is needed."
Vijay Kedia, president of FlexTrade Systems Inc. said, "FlexTRADER will deliver our leading algorithmic platform to BNY Brokerage clients with the same robust functionality and speed relied upon by hundreds of institutional traders worldwide."
BNY Brokerage is a premier institutional agency brokerage firm that provides full-value brokerage solutions to institutional asset owners, asset managers, and broker-dealers worldwide. BNY Brokerage offers a full range of execution services, including specialized global transition management capabilities, commission management services, research and wholesale services. Additional information on BNY Brokerage is available at www.bnybrokerage.com.
