NEW YORK and LAKE FOREST, Calif., March 21 /PRNewswire/ -- FutureTrade, a leading independent provider of electronic equity and option execution services, today announced the latest upgrade to its popular trading platform, FutureTrade Version 3.3. FutureTrade has added new analytical features, algorithms and sources of electronic liquidity to the platform to enhance its position as a leading independent provider of electronic trading services.
Version 3.3 upgrades include:
* BLOCK algorithm which scans ECN's, exchanges and most block-crossing
ATS's to deliver executions which meet a user's minimum share
requirement while avoiding the market impact associated with breaking
large block orders into many smaller executions. The market is
continuously monitored for potential block executions, within the user
defined price tolerance and urgency level, without ever displaying the
user's order.
* BUYBACK algorithm which allows users to execute corporate buy-back
orders using a sophisticated volume weighting methodology while
remaining in compliance with the Timing, Price and Volume conditions of
Rule 10b-18.
* VOLPART algorithm which allows users to participate with market volume
by specifying the percentage of the volume they wish to be during a
specified period.
* Integrated Transaction Cost Analysis providing actionable information
on the quality of executions which can easily be accessed and analyzed
by sector, individual security, broker, algorithm and trading venue.
Independent transaction cost analysis is provided through a previously
announced partnership with Quantitative Services Group.
* Integrated Commission Management providing firms with sophisticated
broker review, voting and commission management capabilities. Clients
may review side-by-side comparisons of commission payments calculated
by the FutureTrade platform versus planned allocations, set and track
soft dollar commission targets, and generate and transmit sell-side
broker performance reports. Independent commission management is
provided through a previously announced partnership with Cogent
Consulting.
* Enhanced multi-broker capabilities enabling users to direct orders to
their choice of various broker algorithms or desks.
"The adoption of electronic trading continues to accelerate and our buy-side clients are looking for tools which allow them to implement their investment strategies more effectively across all trading counterparties and measure their results," said Mr. Jim Kwiatkowski, Executive Vice President of FutureTrade. "By providing integrated access to the brokers, algorithms and electronic venues which our clients demand as well as independent Transaction Cost Analysis and Commission Management, we enable our clients to manage their brokerage relationships, direct orders and measure execution quality so that they can demonstrate a best execution process."
About FutureTrade
FutureTrade provides buy-side traders with a fully integrated direct access trading platform for equities and options. Through one platform, traders access liquidity on all major exchanges, ECNs, ATSs, Market Makers, DOT and all major US Options Exchanges. Users enter orders, get instantaneous executions, track multiple portfolios, access market data efficiently, and see advanced analytics -- all from a single integrated workstation. FutureTrade facilitates real-time reporting of trade data making it an ideal front-end to straight-through processing for buy-side traders. Market conditions and system performance may delay system access, real-time data and trade execution. Transactions executed through FutureTrade Securities, a wholly owned subsidiary of FutureTrade Technologies. Securities offered through FutureTrade Securities, LLC. Member of NASD and SIPC. For more information, please visit http://www.futuretrade.com .
