Eze Deepens Trade Informatics Partnership with Start Integration

Clients of the Boston-based vendor, which recently announced that it will be acquired by SS&C Technologies, will be able to choose TI’s Strategic and Tactical Analytic Research and Trading (Start) tool from their OMS/EMS dashboard, which will suggest trading strategies based on TI’s analytics. Broker selection and strategy validation is up to the user, after which Start handles the execution.

“The OMS (or EMS) trader does not select an algo strategy. This is what TI Start does after conducting an alpha profiling that examines the client’s historical trade data and historical market data,” says Andrew Pheifer, director of product management at Eze. “The trader will simply choose the broker—for example, using Goldman Sachs direct market access routes through TI Start could be represented as a broker code TI-GSCO, whereas JPMorgan could be represented as a broker code TI-JPM—and the TI Start engine fully automates the strategy selection and child order slicing to the market.”

This is the second time that Eze has partnered with TI in recent months, after it announced that it would be integrating the analytics provider’s post-trade transaction-cost analysis offering in November 2017.

“We were aware of their pre-trade capabilities and already had a couple of satisfied mutual clients,” Pheifer says. “As we’ve been working much more closely with TI over the past year, we’ve shared ideas about what we could develop together to bolster the offering. Both products’ inherent design flexibility continues to lend itself well to new integrated capabilities like this.”

The integration of Start, he says, will create a benchmark from which improvements can be measured, while also providing a detailed record of how the order was prosecuted for best-execution purposes. Using both of TI’s products together, he says, results in a “force multiplier” for the user.

“The post-trade TCA assessments can help inform and improve the pre-trade Start engine, and gets augmented throughout by a consultative process that delivers actionable advice, often unlocking operational alpha,” he says.