BestEx enhances algo system for brokers building proprietary offering

Rick Steves

“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.”

BestEx Research 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).

Strategy Studio 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.

Focus on execution automation and measurement

The provider of high-performance algorithmic execution and measurement solutions for equities, futures, and FX trading boasts 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).

The Algorithm Management System (AMS) allows asset managers to trade through multiple broker-dealers, and broker-dealers can use it to create their own proprietary algorithmic trading offering.

Hitesh Mittal, Founder and CEO of BestEx Research, said: “Our vision is to become the leader in execution automation and measurement, and the BestEx Research AMS is a massive step forward. 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.”

“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.”

Andrew Westhead leads research at BestEx

BestEx Research Group has recently appointed Andrew Westhead as Managing Director of Research as the firm looks to further develop its high-performance algorithmic execution and measurement solutions for equities, futures, and foreign exchange trading.

Andrew Westhead has more than 15 years of experience in the research, development, and deployment of execution algorithms with a particular focus in equities, futures, and FX.

He joins BestEx Research from Graham Capital Management, where he was the Director of Smart Execution at the “systematically focused hedge fund”.

BestEx Research Group, LLC was founded in 2017 and offers broker-neutral solutions that combine sophisticated execution algorithms with a user-friendly dashboard and transaction cost analysis for multiple asset classes. The cloud-based solution covers equities, futures, and foreign exchange.

Execution algorithms are capable of reducing trading costs for buy-side managers and providing sell-side firms a seamless trading solution for their clients.

Read this next

Institutional FX

BNY Mellon to leverage Baton System’s CCP network on its ECPO service

“The union of Baton’s extensive CCP connectivity with the ground-breaking functionality of BNY Mellon’s ECPO service forms a powerful offering to cleared derivatives market participants.”

Institutional FX

NYSE and Tel Aviv Stock Exchange to promote dual listings

“This major step is intended to foster collaborations between the two exchanges and to encourage the dual listing of Israeli companies in their home market and on the NYSE.”

Technology

TT’s KRM22 selected as risk technology partner of Chicago-based RCM

“Broad product coverage and effective risk analytics performance are essential to proper implementation of risk management and risk analysis.”

Industry News

DXtrade FX/ CFD Platform Integrated with Your Bourse for Turnkey Liquidity

DXtrade brokers received access to 30+ major banks and Tier 2 liquidity providers with Your Bourse.

Executive Moves

Wave hires Harumi Urata-Thompson as CFO of SEC-regulated crypto investment company

“With extensive experience leading teams across both the traditional finance and digital asset sectors, Harumi is well-equipped to provide our team with the immediate strategic insights needed to optimize our financial operations. She is a fantastic addition to our team as we continue to strengthen our position as one of the leading digital asset managers and to deliver sophisticated financial services to our clients.”

Retail FX

TRADE.com enters United States as brokerage obtains license from FINRA

“We intend to be fully operational as a brokerage house in the U.S. by the end of H1 2023 and look forward to forging long term relationships with new business partners and clients.”

Technology

Pico launches Corvil Cloud Analytics as trading industry moves into cloud

“Since Corvil Cloud Analytics is software only, this accelerates our deployments and also provides an expedited avenue for proof-of-concept use cases. It’s now easier than ever for clients to access the platform so they can see firsthand what makes Corvil an industry leader in data analytics.”

Executive Moves

Finalto recruits Antony Parsons as head of liquidity

Finalto, the financial trading division of Gopher Investments, is making a broader push into the liquidity provision space, culminating in a new appointment focused on expanding the business into new markets.

Digital Assets

Huobi introduces Tether’s stablecoins pegged to euro, gold

Huobi, the world’s sixth-largest crypto exchange by trading volume, is set to introduce for its clients two stablecoins representing ownership of physical gold and Euro-pegged tokens.

<