FlexTrade is to integrate Tradefeedr’s foreign exchange (FX) pre-trade forecast data into its FlexTRADER EMS multi-asset platform.
FlexTrade say this extension of the two firms’ relationship will offer clients pre-trade insights on when to request-for-quote (RFQ), algorithm performance and managing RFQ panels.
Tradefeedr’s unified data analytics API will offer connectivity to a global FX data set, which the company says will increase transparency in the pre-trade and post-trade stages.
Within the API, trading teams will be able to use available data and analytics to create workflow automation through FlexTrade’s AlgoWheel product.
The software also allows clients to check the performance of execution algorithms compared to the industry.
Balraj Bassi, co-founder and CEO of Tradefeedr, says: “We are now moving into the next stage in the evolution of accessible and actionable FX data, where buy-side trading desks can make data-driven decisions based on global data sets. For years, acquiring, aggregating, and using big data has been a challenge – this is no longer the case. Tradefeedr’s new data API changes this, delivering FX traders the information they need to optimise trading execution and outcomes.”
Andy Mahoney, managing director for EMEA at FlexTrade Systems, adds: “[This] move is in response to the increased demand for advanced, comprehensive FX analytics from our multi-asset client base to deliver innovative and actionable pre-trade data tightly integrated within their order blotter. Having the data available in this way can help optimise trading decision-making and enable traders to efficiently handle low-touch orders by applying automation via our FlexAlgoWheel solution.”
