TradingScreen Concentrates TCA Efforts on FX Front

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23 June 2014
United States

TradingScreen Inc., the leading provider of multi-product trading platforms with straight-through-processing, today announced the launch of TradeStrat v2.0, its multi-broker strategy hub. With TradeStrat, TradingScreen end users can, for the first time, access a full suite of algorithmic trading tactics available from leading institutional brokers from a single interface. Once considered proprietary, TradeStrat makes available to all TradingScreen products (TradeSmart, TradeExcel, TradeFix, etc.), the leading global investment banks’ algorithmic trading strategies, in addition to reaching Direct Marketing Access (DMA), Discretionary and Notice of Execution (NOE) capabilities. Additionally, end users are able to “tailor make” each strategy with a number of parameters adapted to their view of the market- for example, start and end time, execution style, and minimum/maximum volume. This offers to institutional investors, a best of breed system simplifying the access to these strategies, while enabling the preservation of brokers' branding and proprietary, value-added client facing execution tools.

"Algorithmic trading has become the single most significant development in the world of electronic equity trading over the past 12 months,” says Philippe Buhannic, CEO and Chairman of TradingScreen. “The leading institutional brokers have invested considerably in the development and externalization of their proprietary algorithmic trading tactics as a means to differentiate themselves in an increasingly competitive landscape. Simultaneously, the buy side has shown an increased focus on the quality of their execution, and views the algorithms offered by the sell side as a key component in the optimization of their trading practices. Given the strong cooperation and push on both the sell side and buy side, it has been a very logical development for TradingScreen to leverage our unique multi-broker capability, to offer a normalized approach across the diverse range of algorithms now being made available by the leading sell side players." "Algorithmic trading continues to be the most hotly discussed new tool for the buy side dealing desk. TradingScreen provides an excellent distribution portal for Citigroup's Algorithmic Trading Strategy product,” says Richard Evans, Head of Alternative Execution at Citigroup Europe. “We will continue to work closely with our vendor partners in providing seamless integration to our transparent and customizable algorithmic suite."

TradingScreen, whose broker neutral front end component connects to all the major sell side counterparties for a variety of asset classes, has integrated the proprietary algorithmic trading tactics of six of the leading investment banks including CSFB's AES (Advanced Execution Strategies), Citigroup's CATS (Citigroup Algorithmic Trading Services), Deutsche Bank's N-Trade, Lehman Brothers' LMX (Lehman Model Execution), Morgan Stanley's BXS (Benchmark Execution Strategies) and UBS Investment Bank's DSA (Direct Strategy Access). TradingScreen plans to continue integrating additional broker algorithmic strategies as they become available.

"TradingScreen has established itself as a leading player in the execution management space. We look forward to working with TradingScreen in the development of the TradeStrat interface and EMS platform,” says Tim Wildenberg, Global Head of Electronic Execution at UBS Investment Bank. “Through TradeStrat, our clients will be able to reach UBS Investment Bank's proprietary strategy service - DSA - along with our vast pool of liquidity. Furthermore, TradeStrat will enable clients to access the various broker execution services from a consolidated and neutral application, allowing brokers to be judged on the quality of the service and execution performance they provide, rather than by the accessibility of their service, as has hitherto been the case."

"At Morgan Stanley, we're committed to working with our clients to provide the best possible trading performance across order types and execution venues. As such, we're excited that clients who use TradingScreen now have the ability to choose our Benchmark Execution Strategies, and via TradeStrat, to assert more control over algorithmic orders,” says Eli Lederman, Global Head of Electronic Trading Services at Morgan Stanley. “We hope that the accessibility of algorithmic services, combined with other trading options, will help us to work with clients to navigate through all the choices before them and identify a set of 'best practices'.”

The types of tactics now being made available by these leading institutional brokers include a variety of VWAP, TWAP, sophisticated iceberg, implementation shortfall (IS), and auction related algorithms that have been built, tested and used internally before being offered to electronic traders on the buy side.

ABOUT TRADINGSCREEN TradingScreen Inc. is accelerating the technical evolution of the financial markets by providing a fully integrated, customer-oriented trading service platform to institutional investors. The proprietary TradingScreen platform links institutional investors and sell side firms together to facilitate order routing, execution management, clearing, and additional value added services, such as real straight through processing and prime brokerage enabling across all asset classes. TradingScreen provides global coverage from offices in New York, London, Hong Kong and Tokyo.

For more information about TradeStrat or to request a demo, please contact TradingScreen at: Miranda Tan at Excite Media Group TradingScreen Public Relations mtan@excitepr.com 212-941-8499 ext. 102