FlexTrade Extends Tradefeedr Relationship to Deliver Enhanced Data-Driven Workflows
September 13, 2023 | By: Iain Smith
Tradefeedr’s new FX pre-trade forecast data API will be available for FlexTrade’s Buy-Side clients.
London, UK, September 13, 2023 – FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, and Tradefeedr, the leading independent FX data analytics provider, today announced the integration of Tradefeedr’s FX pre-trade forecast data within FlexTrade’s multi-asset platform, FlexTRADER EMS.
The move comes as FX traders demand access to unique big data sets to improve transparency, seamlessly embed it to operationalize workflows to optimize trade decision-making and guide the overall trading process.
Tradefeedr’s unified data analytics API offers a seamless connection to a global FX data set, which increases transparency in pre- and post-trade and enables buy-side FX desks to make informed trading decisions. The new solution brings standardized, aggregated trading data into one place to be analyzed, whether executed by algo or risk transfer (RFQ or RFS). Leveraging Tradefeedr’s peer universe data empowers clients to assess the performance of their execution algos compared to the industry. This facilitates meaningful conversations with algo providers, enabling the identification of the best algorithms and execution styles that align with market conditions, risk profiles, and other industry parameters.
Using Tradefeedr’s new API within FlexTRADER EMS, clients can benefit from 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, with Tradefeedr’s data seamlessly integrated into FlexTRADER EMS, trading teams can leverage the data and analytics to create automation that triggers workflow via FlexTrade’s AlgoWheel. It 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.
Balraj Bassi, Co-Founder & CEO , Tradefeedr, noted: “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. 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 optimize trading execution and outcomes.”
Andy Mahoney, Managing Director, EMEA at FlexTrade Systems, stated: “We’re delighted to extend our partnership with Tradefeedr to incorporate its newly launched API within FlexTRADER EMS. The 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 optimize trading decision-making and enable traders to efficiently handle low-touch orders by applying automation via our FlexAlgoWheel solution.”
About FlexTrade Systems:
FlexTrade Systems is a global leader in high performance multi-asset execution management and order management systems for equities, fixed income, foreign exchange, futures, and options. A pioneer in the field, FlexTrade is internationally recognized for introducing FlexTRADER®, the world’s first broker-neutral, execution management trading system, which allows clients to completely control and customize their execution workflows through a comprehensive ability to search/access liquidity while maintaining the confidentiality of their trading strategies.
About Tradefeedr:
Tradefeedr levels the playing field for trading analytics, providing a market-wide independent network which allows the sell-side, buy-side, regional banks, hedge funds, brokers, and central banks to connect, analyse their trading data and collaborate. By connecting clients, Liquidity Providers, ECNs, and venues Tradefeedr provides a single, consistent view of trading data, irrespective of where firms trade. With better-standardised data, Tradefeedr transforms the way in which market participants interact and delivers new insights and better decision making for all.
Tradefeedr’s award-winning data analytics network includes 20 leading sell-side clients, 50 major buy-side firms and 10 trading platforms.
Tradefeedr was named “Best Execution Product” in the Risk Awards 2023 and “Best Independent TCA Provider” by FX Markets in 2022 and 2023.