InfoReach said Monday it is introducing a pre-configured version of its existing Trade Management System.
The system will be a hosted service, aimed at firms "who do not require significant customization to their trading system,'' InfoReach said.
The Prelude version of its Trade Management Systems will be supplied with no financial risk to brokers who sign on, according to the company. If the brokers' customers don't use Prelude, no fee is charged.
If the system does get used, pricing starts around $1000 a month and can go up to roughly $2,000 a month, depending upon level of functionality requested by traders or their brokers.
InfoReach customers are buy-and sell-side institutions and market participants, such as hedge funds, asset managers, broker-dealers, sell-side program trading groups and proprietary traders.
The cloud-based system can be licensed on a month-to-month basis. No long-term contract is required.
Prelude comes loaded with popular execution algorithms and also provides access to over 500 algorithms of nearly 40 global brokers.
“Many participants in the global capital markets are constrained by budgetary concerns, yet they still need sophisticated trading and analysis tools if they’re going to stay competitive and achieve best execution,” said InfoReach CEO Allen Zaydlin. “Prelude is the answer for traders and brokers alike who want to reduce trading system costs without sacrificing capabilities or performance.''
InfoReach will demonstrate Prelude at the Securities Industry and Financial Markets Association Financial Services Technology Leaders Forum and Expo starting Tuesday.
By comparison, the full InfoReach Trade Management System consolidates pre-, in- and post-trade analysis, pre-built and broker-provided algorithms, real-time, interactive charts and position monitoring, portfolio trading capabilities, order management and FIX connectivity.
The InfoReach FIX Network (IFN) provides connectivity to more than 140 brokers, exchanges and other global sources of liquidity for equities, options, futures and forex.
This story first appeared on the Securities Technology Monitor web site.
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