TradingScreen merges with Imagine, integrates Goldman Sachs’ pre-trade cluster analytics

Rick Steves

Pre-trade cluster analytics improves investment managers’ decision-making on how to trade, including driving the optimal order routing options for order execution right down to selecting the best algo available on TS Imagine’s Algo Wheel.

TS Imagine has become the first vendor to integrate pre-trade cluster analytics from Goldman Sachs into its trading system to support buy-side best execution requirements.

The dynamic end-to-end trading and portfolio management software platform connects the investment management industry to a network of brokers, banks, and exchanges.

By integrating Goldman Sachs’ pre-trader cluster analytics, investment managers will be able to automate more of their equity trading workflow.

Goldman’s Quantitative Execution Services team classifies microstructure-based stock characteristics into “clusters”, which define the precise nature of tradability of stocks based on volatility, liquidity and complex, non-linear dynamics.

This allows for highly informed decisions about how investment managers are going to trade, including driving the optimal order routing options for order execution right down to selecting the best algo available on TS Imagine’s Algo Wheel.

Michael Steliaros, Global Head of Quantitative Execution Services at Goldman Sachs, said: “Detailed, accurate and relevant pre-trade insights have never been more important for equity trading. With the plethora of factors affecting execution dynamics globally, one needs to employ ever-increasing sophistication in disentangling said dynamics and translating them into actionable trading behaviour.

“Our proprietary trading cluster methodology is one such example of how our team can assist in that endeavour. The continued collaboration with TS Imagine helps deliver our market-leading analytics to buy-side firms, seamlessly integrated in their front-end, enabling access to the most relevant information required to best serve their clients.”

Alex Harman, Co-Head of EMEA Electronic Trading at Goldman Sachs, said: “Integrating GS stock cluster analytics into the TS Imagine OEMS empowers the buy-side to further enhance the decision making in their TS Algo Wheels—in particular, optimising the criteria for eligibility of what is sent to an algo wheel and strategy selection.

“The clustering data can be overlaid on typical wheel inputs, such as notional and ADV, with data-driven, stock-specific classifications”, he added.

Dan Soudry, European Senior Account Manager at TS Imagine, commented: “We are very pleased to integrate the GS cluster classification into the existing pre-trade analytics suite of TS Imagine’s OEMS.  

“By making them available within our blotter and automation tools, we believe it will enrich our OEMS workflow to assist the buy-side trader with complex trading decisions.”

The partnership with Goldman Sachs follows the recent merger between TradingScreen and Imagine Software to create an end-to-end investment management platform.

Francisco Partners, which specialises in partnering with FinTech firms, said it has closed its deal for TradingScreen and that it expects the Imagine transaction to close this month.

Named TS Imagine, the new SaaS cloud-based end-to-end trading and portfolio management software platform will be used for connecting investment managers to brokers, banks and exchanges.

TS Imagine will have around 400 employees in 10 offices and serve around 500 buy- and sell-side institutions globally including hedge funds, asset managers, pension funds, mutual funds, and financial institutions.

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