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Vijay Kedia, FlexTrade

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FlexTrade launches FlexAlgoWheel

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FlexTrade, a provider of multi-asset execution and order management systems, has launched FlexAlgoWheel, a data-driven interface to algo selection that incorporates real-time internal and external inputs as well as TCA to optimise the broker and algo selection process.

 
According to Vijay Kedia, president and CEO of FlexTrade, an important, yet repetitive role of any trader is to select the right broker and algorithm based on a multitude of factors, such as order characteristics, portfolio manager instructions, market volatility and relative contribution to risk in the portfolio.
 
FlexAlgoWheel enables buy-side firms to configure a systematic and quantifiable decision matrix through an intuitive point-and-click interface that dynamically selects the optimal broker and algorithm. Furthermore, it enables full transparency and consistency in the best execution process — a requirement of MiFID II compliance.
 
“Firm-wide, data-driven, unbiased consistency in the algorithm selection criteria will become the norm,” says Kedia.
 
FlexAlgoWheel is currently being implemented by multiple buy-side firms that utilise more than 200 brokers, and have a large number of portfolio managers and strategies.

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