UK dealing systems vendor royalblue has launched Fidessa BlueBox, an algorithmic trading system that enables sell-side firms to build their own proprietary models.
The product, which is integrated into the vendor's Fidessa sell-side order management system, provides traders with a toolkit for hosting, building and deploying internal algorithms.
The technology allows traders to control and monitor algorithmic trading from the OMS screens, says Royalblue. Traders can track key performance indicators in real-time and are able to alter parameters on the fly, slow down or speed up trading, pause or stop the algorithm to react to changing market conditions or to mitigate risk and use pre-, post- and intra-trade analytics to evaluate performance.
The package consists of two offerings - BlueBox Strategies supplies out-of-the-box algorithms that can be customised to meet a firm's needs, while BlueBox Framework enables firms to develope and deploy proprietary algorithms. Developers can design, build, test, analyse and improve the performance of their models before releasing them into a live environment, says royalblue.
Martin Hakker, EVP of marketing for Fidessa, says BlueBox algorithmic trading within reach and allows firms of any size can host their own internal models as well as build their own proprietary models.
"BlueBox provides a cost-effective means for firms of any size to offer distinctive and customized algorithms directly to their clients. At the same time, BlueBox gives traders the power to control and interact with their strategies," he adds.
BlueBox has been launched to the US market and will be released in Europe and Asia in early 2007.