In response to the growing demand among FX traders for access to comprehensive data sets that can enhance trading transparency and decision-making, FlexTrade and Tradefeedr have announced a new partnership to optimize FX trading workflows.
The multi-asset execution and order management company has teamed up with the foreign exchange data analytics provider to integrate Tradefeedr's FX pre-trade forecast data into FlexTrade's FlexTRADER EMS platform.
FlexTrade and Tradefeedr to Enhance Trading Transparency
The partnership aims to offer traders a unified data analytics API that connects to a global FX data set. This will improve transparency in both pre-trade and post-trade phases and enable buy-side FX desks to make more informed trading decisions.
The new solution aggregates trading data into a single platform for analysis, whether trades are executed algorithmically or through risk transfer methods like request-for-quotation (RFQ) or request-for-solution (RFS). Clients can now compare their algo performance against industry benchmarks, facilitating discussions with algo providers to identify the most effective algorithms and execution styles.
"For years, acquiring, aggregating, and using big data has been a challenge – this is no longer the case," Balraj Bassi, the Co-Founder & CEO at Tradefeedr, noted. "Tradefeedr's new data API changes this, delivering FX traders the information they need to optimize trading execution and outcomes."
FlexTRADER EMS clients can expect two major advantages from this integration. First, the platform will offer insights into various aspects of trading. It includes the optimal timing for RFQs, selecting the best-performing algorithms, and managing RFQ panels. For instance, traders can now determine the risk transfer price for a trade and identify the most suitable broker based on specific order characteristics.
Second, the integration allows trading teams to automate workflows through FlexTrade's AlgoWheel, enabling deterministic actions like automatic routing and execution against RFQ or streams if the risk transfer price is below Tradefeedr's pre-trade cost.
"We're delighted to extend our partnership with Tradefeedr to incorporate its newly launched API within FlexTRADER EMS," Andy Mahoney, the Managing Director for EMEA at FlexTrade Systems, stated. "Having the data available in this way can help optimize trading decision-making and enable traders to efficiently handle low-touch orders by applying automation via our FlexAlgoWheel solution."
FlexTrade Systems works in the field of multi-asset execution management and order management systems. The company is known for introducing FlexTRADER, the world's first broker-neutral execution management trading system. Tradefeedr provides a market-wide independent network for trading analytics. The platform connects market participants, offering a consistent view of trading data.
Tradefeedr Bets on Algos, FlexTrade on AI
Recently, Tradefeedr announced the launch of its Algo Forecasting Suite, a set of tools designed for pre and post-trade analysis. These tools assist clients in determining the most effective FX execution algorithms to use. The suite aids in decision-making by providing insights into whether to use an FX algorithm, what behavior to expect from it, and which algorithm is most suitable given various factors such as market conditions, risk tolerance, timing, or auditing requirements.
Around the same time, FlexTrade revealed its foray into artificial intelligence (AI). The company claims that the AI system will improve trading teams' interaction with their data and trading technology solutions.
Additionally, in July, FlexTrade announced that Amundi Intermédiation, a European execution platform, plans to implement FlexTRADER EMS. This move will bolster automation capabilities across multiple asset classes, including equities, derivatives, and fixed income.
