EdgeTrade to Integrate Its Agency Algorithms with Charles River Development's Investment Management System.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- EdgeTrade - the independent, agency-only broker and developer of algorithmic and direct access (DMA (1) (Digital Media Adapter) See digital media hub. (2) (Document Management Alliance) A specification that provides a common interface for accessing and searching document databases. ) software - today announced an agreement with Charles River Development to collaboratively build an interface that will connect EdgeTrade's agency algorithms with Charles River's Investment Management System. The agreement will streamline the algorithmic trading Algorithmic Trading A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of process for EdgeTrade clients using Charles River IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. . Clients of EdgeTrade, totaling more than 150 in North America and Europe, include hedge funds, mutual funds, asset management firms This is a list of corporations that provide financial asset management.
"We ensure traders have the ability to access EdgeTrade's agency algorithms through the systems they're most comfortable using," said EdgeTrade President, Kyle Zasky. "Charles River is an important addition to our growing list of interfaces." EdgeTrade's algorithms are available through Execution Management System[TM], the firm's independent, agency-only platform for single stock and basket equity orders, as well as a number of buy-side and sell-side trading and order management systems, including: Bloomberg, ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. , Eze Castle, Fidessa, Longview (Linedata), Macgregor, Mixit, Moxy (Advent), Neovest, NYFIX, thinkorswim and Tradeware. "Charles River is committed to offering institutional traders consolidated access to tools and services that enhance their trading decisions and results," said Stephen Engdahl, Director of Product Management, Charles River Development. "This relationship with EdgeTrade expands the depth and breadth of algorithmic trading strategies now available to our clients directly from the Charles River blotter A written record of arrests and other occurrences maintained by the police. The report kept by the police when a suspect is booked, which involves the written recording of facts about the person's arrest and the charges against him or her. BLOTTER, mer. law. ." EdgeTrade is pioneering smart order execution strategies with Sumo sumo: see wrestling. sumo Japanese form of wrestling.A contestant loses if he is forced out of the ring (a 15-ft circle) or if any part of his body except the soles of his feet touches the ground. and FAN ("Find and Nail" best execution in a fragmented market). Unveiled last September, FAN circulates orders to major public markets and dark books simultaneously, and continuously "refreshes" until filled. Sumo, launched in 2005, is an aggressive, time-sensitive strategy designed to get trades done quickly with little to no market impact and information leakage. Other key features of EdgeTrade's agency-only algorithmic trading service include a growing roster of benchmark strategies: VWAP VWAP The volume-weighted average price. , TWAP TWAP Time-weighted average price TWAP Target-Weapon Association Program , Liquidity Paced, Volume Tracker and 10b-18 (corporate buyback). Internally developed and introduced by EdgeTrade to its institutional client base in 2002, EMS[TM] offers high-speed connections to multiple execution venues, DMA order types, algorithmic trading strategies and low-latency market data. While a holistic offering, EMS is a modularly designed trading hub that gives traders what they want through customized screens. EMS runs on all Java-supported operating systems. Clients access the platform via the Internet, dedicated line, in-house order management/trading systems or through FIX. About Charles River Development Charles River Development is an award-winning provider of innovative technology systems and services to over 235 investment professionals in the institutional, mutual fund, banking, hedge fund, wealth management, insurance and pension industries. The Charles River Investment Management System is a comprehensive front- and middle-office software suite for all security types that includes Charles River Manager for portfolio management and modeling; Charles River Trader for order and execution management and electronic trading; Charles River Compliance for real-time pre-trade and end-of-day compliance; and Charles River Post-Trade for the centralized management of trade matching, confirmation, and settlement workflow. The system incorporates global real-time electronic trading via FIX through the Charles River Network, a reliable, secure, private financial network based on the BT Radianz global financial extranet. The company offers many services to complement its software including implementation services and managed services (hosted and remote application management). Founded in 1984, Charles River maintains headquarters in Boston and primary offices in London, Melbourne, Paris, and Singapore. For more information, visit www.crd.com. About EdgeTrade Inc. Established in 1996, EdgeTrade has carved a sterling reputation for its integrity, uncompromised trading and execution services, and superior technological development of algorithmic strategies and direct market access software. An independent, agency-only broker and software developer, EdgeTrade never conducts principal or proprietary trading. EdgeTrade's overarching mission is to empower traders with an unconflicted, agency-only model that offers high-speed and quality of anonymous execution, coupled with innovative trading technology. EdgeTrade is a member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . For more information on EdgeTrade, visit www.EdgeTrade.com. |
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