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In this shared commentary, Aplomb Strategies writes that when considering a firm’s governance structure, a holistic approach makes the most sense.

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May 20, 2010

AlgoTrade Combines OMS and EMS

By John D'Antona Jr.

Software development company AlgoTrade has built a new hybrid trading system that combines order and execution management systems into a unified desktop program.

Chicago-based AlgoTrade's new system is called AlgoCore, and it can be up and running within weeks. Systems built entirely from scratch can take months.

About 80 percent of its OMS and EMS software is already prewritten for clients. The remaining 20 percent of the software is customized for a client's unique trading strategies. This shortens programming time and minimizes cost.

"Anyone who has a trading strategy that can be explained in mathematical terms, we can program into a computer. AlgoCore can implement them," said Gene Koziarz, a managing director there. Once that programming process is done, the system is fully functional.

AlgoCore is currently used with Trading Technologies' XTAPI exchange access interface. Koziarz said there are plans to place the system on top of other vendors' access software and join it with broker-dealers' own application program interfaces.

"We can partner with any software vendor that offers exchange connectivity," Koziarze said. AlgoCore is used by three trading firms since its January launch, he said.

 

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