Deutsche Boerse on Monday launched a new trading application that helps traders access and utilize machine-readable news.
Dubbed AlphaFlash Trader, the new product is aimed at integrating machine-readable news delivered by Deutsche Boerse’s AlphaFlash data service into popular execution platforms. The new tool is already available on Trading Technologies’ X Traders Pro and will be offered on other platforms in the future.
AlphaFlash’s machine-readable news service delivers more than 300 global macroeconomic indicators, as well as U.S. and international treasury auction data, to various low-latency traders. Deutsche Boerse hopes that with the launch of the new product, its data service will become accessible to new client groups.
Deutsche Boerse subsidiaries Need To Know News and MNI offer AlphaFlash. Clint Rhea, chief operating officer of Need To Know News, said the new product would allow traders without development resources or programming skills to automatically trade off of economic indicators.
“In the past, they just haven’t been able to trade around some of these events,” Rhea said. “This really puts these economic events in the hands of a totally different audience, and that’s good for everyone.”
The application uses a ‘drag and drop’ methodology in which users can select the economic indicators they want—including interest-rate policy decisions, employment numbers, housing statistics and gross domestic product figures—and configure trading parameters so orders will be executed immediately after data is released.
Traders using the system can also enter multiple orders for different markets and asset classes simultaneously, the company said.