Tradefeedr to Provide FX Data to FlexTrade Systems

<p>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. </p><p>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. </p><p>FlexTrade and Tradefeedr
to Enhance Trading Transparency</p><p>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 <a href="https://www.financemagnates.com/terms/b/buy-side/">buy-side</a> FX desks to make more informed trading
decisions. </p><p>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.</p><p>"For
years, acquiring, aggregating, and using big data has been a challenge – this
is no longer the case," Balraj Bassi, the Co-Founder &amp; CEO at <a href="https://www.financemagnates.com/tag/tradefeedr/" target="_blank" rel="follow">Tradefeedr</a>,
noted. "Tradefeedr's new data API changes this, delivering FX traders the
information they need to optimize trading execution and outcomes."</p><blockquote><p lang="en" dir="ltr">We're delighted to announce the availability of <a href="https://twitter.com/tradefeedr?ref_src=twsrc%5Etfw">@tradefeedr</a>'s FX pre-trade forecast data API within FlexTRADER EMS. Read the full story: <a href="https://t.co/nH6v1tjf5B">https://t.co/nH6v1tjf5B</a> <a href="https://t.co/JKp2nSq35D">pic.twitter.com/JKp2nSq35D</a></p>— FlexTrade Systems (@FlexTrade) <a href="https://twitter.com/FlexTrade/status/1701850436951810091?ref_src=twsrc%5Etfw">September 13, 2023</a></blockquote><p>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. </p><p>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.</p><p>"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."</p><p>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. </p><p>Tradefeedr Bets on Algos,
FlexTrade on AI</p><p>Recently,
Tradefeedr announced the launch of its <a href="https://www.financemagnates.com/forex/tradefeedr-launches-algo-forecasting-suite/" target="_blank" rel="follow">Algo Forecasting Suite</a>, 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.</p><p>Around the
same time, <a href="https://www.financemagnates.com/forex/news-nuggets-24-may-hantec-markets-brand-ambassadors-flextrade-brings-ai/" target="_blank" rel="follow">FlexTrade revealed its foray into artificial intelligence (AI)</a>. The
company claims that the AI system will improve trading teams' interaction with
their data and trading technology solutions.</p><p>Additionally, in July, FlexTrade announced
that <a href="https://www.financemagnates.com/institutional-forex/european-5t-execution-platform-chooses-flextrades-mult-asset-services/" target="_blank" rel="follow">Amundi Intermédiation</a>, a European execution platform, plans to implement
FlexTRADER EMS. This move will bolster <a href="https://www.financemagnates.com/terms/a/automation/">automation</a> capabilities
across multiple asset classes, including equities, derivatives, and fixed
income.</p>

This article was written by Damian Chmiel at www.financemagnates.com.