Fidessa -- a provider of trading systems, market data and global connectivity solutions -- has added its fully integrated algorithmic trading engine BlueBox to its hosted Asian trading platform for brokers. BlueBox provides access to pre-built, industry standard algorithmic strategies along with a toolkit for clients wanting to build and offer their own proprietary models.
BlueBox incorporates low-latency market data and global exchange connectivity. It is available to mid-tier brokers across the region, allowing them to automate their own trading activities as well as to offer direct access to their algorithmic strategies to their buy-side clients.
David Jenkins, business solutions manager at Fidessa in Asia, says BlueBox is designed to lower the financial barriers and complexities of algorithmic solutions.
With this Asia launch, Fidessa has initially added new models for volume weighted average price (VWAP), time weighted average price (TWAP), percent of volume (POV), passive and short-sell tailored for the local markets. These models are specifically designed to allow for dual-session trading days and non-trading periods, and incorporate model-generated volume curves which plot the unique characteristics of these markets.
Fidessa says BlueBox empowers traders with tools to track key performance indicators in real-time, and then step in to alter parameters on the fly, slow down or speed up trading, pause or stop the algorithm in response to changing market conditions and to mitigate risk. It also supports the use of pre-, post- and intra-trade analytics to evaluate performance, the firm says.
"These new tools enable our clients to optimally execute their order flow with both passive and aggressive strategies," says Jenkins. "Our Asia-Pacific clients are increasingly demanding advanced solutions for executing their trades, as well as requiring the flexibility to offer their own innovations directly to their clients."
BlueBox is part of Fidessa's trading series which includes List Management, Wave Trading, Pairs Trading and Analytics, all of which are built on and integrated with Fidessa's award winning trading platform. Asia-Pacific is the fifth region in which Fidessa has launched the BlueBox solution, following on from the US, Europe, Japan and Canada, where it is already in use by over 60 clients.