EdgeTrade Releases Sumo Algorithm

EdgeTrade, agency broker and developer of algorithmic strategies and direct market access (DMA) software, has launched Sumo, an algorithm that allows traders to complete a single stock or portfolio trade without limit orders or a market order that can typically

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EdgeTrade, agency broker and developer of algorithmic strategies and direct market access (DMA) software, has launched Sumo, an algorithm that allows traders to complete a single stock or portfolio trade without limit orders or a market order that can typically leave a trader exposed to poor execution.

“Our quantitative team listens to traders, and what they asked for is an algorithm that would get a trade executed quickly much like a market order but without the risk of showing their hand in one shot,” said EdgeTrade CEO, Joseph Wald. “Hard as it may be to believe, most traders do not have access to an algorithmic tool that enables them to accomplish this. Fact is: most broker/dealers are rife with internally competing interests that prevent them from developing a Sumo or other electronic tools demanded by traders. EdgeTrade’s conflict-free agency environment and consultative approach with clients, results in traders getting the tools they want.”

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