FLEXTRADE-SYSTEMS
FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, has announced the launch of artificial intelligence-driven (AI) functionality within its flagship multi-asset solution, FlexTRADER EMS. The new interface layer is designed to revolutionize how trading teams interact with their data and trading technology solutions.
Over the past year, OpenAI driven-solutions such as ChatGPT and its latest version, GPT-4, which apply natural language processing to large language model (LLM) systems, have been in the spotlight, with firms racing to understand their uses for the trading space. However, the new offering from FlexTrade is one of the first practical examples of the technology being used directly within an OEMS solution.
The groundbreaking innovation, which has the working name of FlexA, is a voice-activated application developed by FlexTrade's in-house data science team as part of its ongoing R&D function and commitment to delivering innovation to its customer base. The solution provides an AI layer across FlexTRADER EMS to simplify the interaction between the trader and their trading technology platform and easily and intuitively work with vast swathes of information outside the more traditional 2D grid visualization and input devices currently used.
With the new solution, traders using FlexTRADER EMS, with FlexA enabled, can apply natural language to interrogate and control the solution via voice commands or a text-based chat interface in several ways. For instance, clients can ask verbal or written questions to quickly and easily achieve a deep situational awareness of orders within their blotter using a combination of specific criteria or characteristics such as "What is the value of my Swiss orders over 10% ADV?". Additionally, traders can request ad-hoc reports on historical trading with specific visualization formats, including tables and charts, to assist with pre-trade decision-making. For example: "Show me a chart of my traded venues for US orders in Feb." Furthermore, traders can send actions to be automated to help speed up workflow. For instance, "create a ticket for my US orders less than 500k using the VWAP AlgoWheel" or "merge AAPL."
Vijay Kedia, CEO, FlexTrade Systems Inc., stated: "The introduction of OpenAI and ChatGPT is a revolutionary moment in consumer technology, and the speed at which we've incorporated it across FlexTRADER EMS is a milestone achievement. It enables traders to use natural language to rapidly interact, interrogate and understand data in the manner which makes the most sense to them. The outcome is that it erodes the barriers created by traditional input devices such as keyboard and mouse, enabling trading teams to work quickly to understand and optimize their pre-trade decisions, which is paramount in a constantly changing environment."
Vikas Kedia, Managing Director of Strategic Initiatives & Emerging Solutions at FlexTrade, commented: "FlexTrade's R&D and innovation teams continuously and proactively evaluate the latest technologies, as they become available, to understand the practical applications to buy-and-sell-side trading desks. From machine learning and our sophisticated real-time market impact analytics offering to, most recently, AI, we are working with our client base and business users to refine and explore further applications across global trading desks. It's an approach that ensures our clients stay at the forefront of cutting-edge developments in trading technology."
About FlexTrade Systems:
FlexTrade Systems is a global leader in high-performance multi-asset execution management and order management systems for equities, fixed income, foreign exchange, futures, and options. A pioneer in the field, FlexTrade is internationally recognized for introducing FlexTRADER®, the world's first broker-neutral execution management trading system. It allows clients to completely control and customize their execution workflows through a comprehensive ability to search/access liquidity while maintaining the confidentiality of their trading strategies.
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