TradingBlock, a Chicago-based provider of custom trading technology for institutions, individuals and RIAs, announced that traders on their platform can now create customized order-routing algorithms to align with their unique trading strategies. The capability is available to asset managers, as well as professional and active traders.
According to the firm, order-routing algorithms, which are software-based instructions used to determine how to carry out buy or sell orders for securities, are designed to enhance the efficiency and effectiveness of executing trades, including options strategies, in dynamic market environments.
“By providing clients the ability to deploy customized order-routing algorithms, TradingBlock is once again strengthening its commitment to being made for the way you trade,” said TradingBlock Institutional Trading Manager Gino Stella. “This new capability gives traders more control as they can tailor their order routing algo to their strategy. They are no longer tied to broadly used, off-the-shelf algorithms.”
Traders will be able to design their own order management protocols and their algorithms will be kept confidential. The platform will provide order routing redundancy through multiple executing brokers with the goal of fast and reliable trades.
“Empowering traders with their own customized order-routing algorithms is especially critical in today’s market environment,” Stella said. “It allows them to quickly adapt to changing conditions and optimize their strategy based on their unique insights, taking the efficiency and impact of their trading to the next level.”
This announcement follows the October introduction of TradingBlock’s executing broker-neutral platform, which allows traders to design a custom execution environment. This platform provides users with a choice of trading software as well as access to multiple third-party brokers and trading platforms, executing brokers and diverse order routing algorithms.
TradingBlock is a FINRA-member broker-dealer and brokerage solutions provider launched in 2003.
James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.
