BestEx Research Group LLC, a provider of high-performance algorithmic execution and measurement solutions for equities, futures, and FX trading, has added a no-code algorithmic trading tool, Strategy Studio, to build and customize execution algorithms and smart order routing strategies to its industry-first multi-asset, cloud-based Algorithm Management System (AMS).
The BestEx Research AMS is an execution management system (EMS) built specifically for algorithmic trading that provides an algorithmic trading ecosystem including not only execution algorithms but also live order monitoring and management, pre-trade strategy customization, and post-trade Transaction Cost Analysis (TCA). Asset managers can use it to trade through multiple brokers, and brokers can use it to create their own proprietary algorithmic trading offering.
“Our vision is to become the leader in execution automation and measurement, and the BestEx Research AMS is a massive step forward,” said Hitesh Mittal, Founder and CEO. “In addition to building best-of-breed execution algorithms, we are building no-code automation tools for our clients that dramatically shorten the time it takes to go from idea to implementation from months to minutes.”
Strategy Studio, the latest addition to AMS, allows brokers to create their own execution platforms, customizing every detail of BestEx Research’s existing algorithms and building new ones from scratch. Users can also build or customize the liquidity seeking strategies and Smart Order Routers (SORs) underlying their algorithms—adding, removing, and prioritizing venues. In addition, Strategy Studio allows users to automate dynamic algorithm selection based on order characteristics like volatility, spread, and order size and A/B test algorithm performance via randomized experiments evaluated with BestEx Research TCA.
Mr. Mittal added, “For buy-side firms, these features are unique and offer unprecedented transparency, control, and flexibility. For broker-dealers building a proprietary offering with our AMS, the ability to manage customers’ trading, customization, and performance evaluation in a single AMS interface is revolutionary.”
Source: BestEx Research