Tradefeedr launches a collection of trade tools for FX
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The success or failure of trades in the financial industry depend on many factors, but the quality of the trading tools used is certainly among the high-ranking ones. Users need to have adequate tools for market analysis in order to make the right calls and end up on top, which is why Tradefeedr — a company offering a forex data analytics platform — announced the launch of a new tool suite.
Known as the Algo Forecasting Suite, the collection was announced yesterday, February 20th, and it consists of a number of pre and post-trade tools, which will allow traders to analyze and select the best FX execution algos for any situation.
The company’s Chief Data Officer, Tim Cartledge, stated that the Algo Forecasting Suite allows users to access independent, accurate data that will properly invorm their algo execution strategies. Not only that, but it will also allow them to analyze their performance following a trade.
Cartledge is a relatively new addition to the company, as he only joined its team last July. He also became a meber of the firm’s board following the $1 million investment by Alphaview Limited, the family office run by Tim and Kate Cartledge.
Simply put, the Algo Forecasting Suite was created to help the traders in making decisions such as whether to use an FX algo, what its behavior might be, and which one is the most suitable for the market conditions at the time of the assessment. Apart from that, it can also help traders with assessing the risk appetite, audit constrains, time, and more.
More benefits of the new tool collection
Before launching the service, Tradefeedr did a lot of back-testing against its own global database, and the results were highly favorable. In fact, Tradefeedr reported “industry-leading accuracy,” with an assessment differing from the actual results by only 0.06 basis points.
Cartledge went on to explain that, at the heart of the new service, there is the Tradefeedr Cost of Liquidity Score. This is where the developers have pioneered a new method of collapsing volatility, currency apir, liquidity provider pricing, and even time of day — all down to one, single number.
Thanks to all of this, the tools can analyze algo performance in very different markets and under varying conditions with great accuracy. That way, they can ensure that all comparisons are made on a like-for-like basis. The clients can now use these tools to make a pre and post-trade automation, and receive analytics that shows the opportunity cost if they do not use alternative execution algos.
Tradefeedr itself is a company launched in 2017, co-founded by Dr. Alexei Jiltsov and Balraj Bassi, who currently serves as the company’s CEO. Its services include a network for buy-side. Sell-side, regional banks, brokers, hedge funds, and even central banks, all of which are in need of trading data analysis. Over the years, the firm also onboarded a number of industry’s leading experts, such as data expert Alexis Fauth, who acts as the Head of Data Science and Clent Analytics.