SOURCE: Marketcetera
October 21, 2008 09:12 ET
Marketcetera Extends Open Source Trading Capabilities to the Back Office
Broker/Dealers Can Now Manage Order Flow, Calculate Risk and Analyze Market Positions From an Integrated Open Source Platform
NEW YORK, NY and SAN FRANCISCO, CA--(Marketwire - October 21, 2008) - Marketcetera, developer
of open source platforms for automated trading systems, today announced a
services package to help broker/dealers monitor their trading platforms.
The offering, available through integration partner dbConcert, enables end
users to monitor network connections, track order flow, analyze market
positions and measure profit and loss -- all from an agile and
easy-to-implement open source platform.
"The solution was developed to meet the specific needs of broker/dealers
faced with the rapidly changing requirements of trade execution," said
Graham Miller, CEO of Marketcetera. "From compressed fee structures to
stricter regulatory standards and rising compliance costs, broker/dealers
need flexibility and visibility into their systems to extend their
portfolio capabilities on the fly. Being able to add data feeds or update
the business rules embedded in their software systems without having to
wait for a vendor update or a customer service call is invaluable to them."
The centerpiece of the new solution is the Marketcetera™ Automated
Trading Platform. Broker/Dealers utilize Marketcetera™ Photon, the
visual end-user interface, to control and monitor their trading activities
and rely on the Marketcetera™ Trading Server (MTS) for order routing
certified brokerage connections, and database management software. The
solution also leverages the extensibility inherent in the platform's design
to provide business intelligence functionality, back-office integration and
an optional customer relationship management plug-in.
"Sell-side firms are beginning to rely on open source applications for a
number of different trading projects," said Stephen Ferrando, CEO,
dbConcert. "Broker/dealers monitor hundreds of connections and millions of
dollars are made and lost on top of their systems. They can't afford to
spend time out of the market waiting for products that take a long time to
implement and are not flexible enough to meet the constantly changing
demands of today's volatile markets."
ABOUT MARKETCETERA
Marketcetera (http://www.marketcetera.com) is a provider of open source
software for automated trading systems. Portfolio managers and other
financial services professionals can quickly transform trading ideas and
pricing rules into their own proprietary algorithms that are embedded in
the Marketcetera platform. The open source foundation of the platform
provides maximum flexibility and technology choice to institutions of all
sizes. End users gain competitive advantage by using the Marketcetera
platform to build effective automated trading systems, develop proprietary
algorithms, create order management solutions and manage risk more quickly
and easily than with closed solutions.