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GREAT NECK, NY, June 28, 2010 -- FlexTrade Systems, Inc., a global leader in multi-asset algorithmic execution management systems, today launched a new cross currency spread program called FlexSpread for the equity markets in the Americas, Europe and Asia.
Available as a stand-alone application or through the award-winning FlexTRADER EMS, FlexSpread"s unique functionality handles cross-currency spreads, such as a US equity security/ETF and a sterling or euro-denominated equity. Traders can choose which currency to balance the spread. FlexSpread also facilitates currency hedging and can program a number of options to handle currency exposure, from adjusting on an equity fill-by-fill basis to adjusting when it reaches a certain amount or a fixed move has occurred in the currency. In addition, the new algorithm also manages cross-currency risk arbitrage deals.
According to Vijay Kedia, President and CEO of FlexTrade, offering a robust spectrum of trading functionality is always a priority. "Anything that gives traders the edge they need to get the trade done," he said. "Cross-currency functionality in electronic trading is increasingly important in today"s global and interconnected markets. With FlexSpread, a trader can seamlessly execute trades among multiple securities in different currencies."
Trading options available through FlexSpread include:
- A pairs trading strategy where one sells/shorts one security and buys another in equal dollar amounts, or in a dollar ratio, subject to a price relationship.
- Risk arbitrage to trade an announced takeover deal, including cross currency deals.
- Cross currency equity pair trades where a trader executes a pair trade in two securities denominated in different currencies.
"FlexSpread has been designed with the traders in mind," continued Kedia. "It offers an easy-to-use ticket design and accommodates a wide and customizable set of execution strategies."
Algorithmic trading is the touchstone of FlexTRADER, a fully customizable EMS with pre-defined trading strategies and tactics for portfolio, sector and single stock trading. The platform provides organically developed pre-trade, real-time and post-trade analytics as well as risk and cost optimized portfolio trade scheduling (FlexPTS); advanced integrations with major OMSs; smart order routing; a sophisticated Dark Pool Router; a fully integrated high performance Complex Event Processing (CEP) engine; commission management; complete transaction and IOI quality management (FlexTQM); and a dynamic strategy matrix.
About FlexTrade Systems, Inc.
Founded in 1996, FlexTrade Systems Inc. is the industry pioneer and global leader in broker-neutral algorithmic trading platforms and execution systems for equities, foreign exchange and listed derivatives. FlexTRADER, our flagship platform for algorithmic trading, is widely viewed as unique in the industry for its combined high performance and multi-asset capability. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than 120 buy- and sell-side firms, including many of the largest investment banks, hedge funds, asset managers, commodity trading advisors and institutional brokers. For more information, visit FlexTrade Systems at www.flextrade.com or follow news of the company on Twitter at www.twitter.comflextrade.