EliData the Milan based company of the CAD IT Group, specialized in the development of trading and order routing applications, and leader in Italy in MiFID 2 solutions, has announced the release of a new suite of algorithmic order strategies, aimed at institutional equities orders.
These strategies are fully integrated in the EliData trading platform, Area Finanza, and allow users to access Primary Exchanges, MTFs and Dark Pools. The algo module consists of the main care-order execution strategies: VWAP, TWAP and Volume Participate. It complements the access to third party broker algos, also available in the EliData Area Finanza platform.
The Algos are designed to provide local brokers with the opportunity of strengthening their execution services, offering own algo strategies, developed in partnership with EliData.
“MiFID 2, and in particular RTS 6, give an edge to those brokers that will have access to a set of own algos, which are stable, easy to manage and fully integrated with their trading infrastructure, as opposed to outsourcing from a third party broker” says Marco Connizzoli, CEO of EliData.
“The benefits can be measured in terms of execution costs, risk management, control over the venues of execution and a full integration with their internal procedures.” Connizzoli added.