EdgeTrade announced the unveiling of Algos Plus, an outsourcing service that enables broker-dealers to private label EdgeTrade’s algorithms.
Sell-side customers of Algos Plus have the option of executing algorithmic orders through their own market connections or utilizing EdgeTrade’s lines, and buy-side clients of participating Algos Plus brokers will never be revealed to EdgeTrade.
“Sell-side firms are looking for a partner to not only provide a service such as the one we’re announcing, but to back it up with dedicated training, support, customization and the flexibility to use their own lines when executing orders; hence the name Algos Plus,” said EdgeTrade CEO Joseph Wald. “Other brokers providing algorithms to sell-side firms will not permit them to use their own lines when executing trades; we will. EdgeTrade has no conflicts. We do not conduct principal or proprietary trading and serve only one constituency: our clients.” Algos Plus complements EdgeTrade’s overarching mission of empowering traders, both buy-side and sell-side, through uncompromised agency execution services that deliver speed and quality of execution, coupled with trading technology that is best-of-breed.
Through Algos Plus, sell-side firms can private label any individual or combination of EdgeTrade algorithms. “To sell-side firms we’re saying: call our algorithms your own, and process order flow as you normally would,” said EdgeTrade President Kyle Zasky. “EdgeTrade can close that learning curve for sell-side firms that want to use Algos Plus, and we will train them on how to sell algorithmic trading to their clients.”