Aegis Software's AthenaTrader receives sell-side certification

Source: Aegis Software

Today, at the TradeTech USA Conference at New York's Metropolitan Pavilion, Aegis Software Inc. announced that its trading product, AthenaTrader, is now certified with several top-tier broker/dealers, including Goldman Sachs, JPMorgan Chase, Lehman Brothers, Morgan Stanley, CitiGroup and Calyon Financial.

AthenaTrader is a broker-neutral order execution system for equities, options, futures and foreign exchange, and includes extensive support for algorithmic, quantitative, portfolio and basket trading. The goal of Athena is to provide a smooth, integrated and consistent trading experience across all instruments, brokers and marketplaces, and not to allow any differences to reflect back into the user's pre- or post-trade processing.

"By certifying Athena with the leading broker/dealers in the marketplace, Athena offers buy-side firms and hedge funds a single platform to access global markets for multiple asset classes", said Steven Santivenere, Product Sales Manager for Aegis Software. "This really empowers the user. A user can slice a basket across multiple brokers and compare slippage values of one broker versus another. A buy side trader can hedge across two different markets, i.e. spot foreign exchange on HotSpot against FX futures on the CME. And of great importance in a marketplace where the average lot size is getting smaller and smaller, the software provides access to algorithms in many different ways: (a) a library of canned algorithms built-in to Athena, (b) an interface for a trader to create custom strategies, (c) an array of broker/dealer-provided algorithms or (d) access to an exchange's own algorithms. Today, many exchanges provide iceberg or peg algorithms, and we anticipate that the exchanges/ECNs will become more and more competitive with their algorithmic offerings."

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