Bloomberg Tradebook has introduced a product improvement to their Strategy Analyzer (STAZ) tool for traders. They’ve added a new feature called “In-Trade” that will provide in-trade functions, in addition to the pre-trade and post-trade features of their trading platforms.
What are the Features of In-Trade Functionality Tool?
Aiming towards investors and traders, STAZ uses several components together, which includes the data and analytics tools of Bloomberg that have predictive models from Tradebook itself, and enables traders to optimize their trading methods in real-time while improving their execution.
The In-Trade functionality tool provides traders an opportunity to see how real-time STAZ algorithms work against the market’s backdrop versus the previous version that only provides pre-trading market analysis and post-trading cost analysis, among some other features.
In addition, the features enable the traders to measure execution metrics using various measurement points, such as bid, mid, open auction, ask, closing auction prices, and block trading and dark venues.
Per description during the press release, the trader may have market data, predictive models, and performance metrics with in-trade features. Combining all of these data is critical for algorithm-focused trading platforms wherein information should be available at the forefront of the interface and not hidden within reports and statements (that can be a distraction for traders). This task makes it even more challenging for a platform that manages a variety of products and information.
Trading with STAZ
STAZ manages approximately 3 billion ticks per day in about 450,000 equity symbols for it to find opportunities for trading on live market data. Their product is available under the STAZ<Go> terminal, and Bloomberg provides spot FX through their Tradebook Services LLC unit, according to their updates.
During their press release, Kapil, Phadnis, the Head of Algorithmic Trading Quantitative Research of Bloomberg Tradebook, said, “Market data without actionable insights is really just noise. STAZ In-Trade is helping traders extract these insights to make more informed decisions about their strategies.”
He added: “We’re providing transparency into how algorithms operate, giving traders access to information they need to adjust their trading strategies in real-time based on market conditions.”
Although many institutional traders have personal proprietary platforms or technology operations for algorithms, some have it outsourced, including those that are co-located. In many cases, however, it can be a mix of the two as setups can be focused usually in a certain area like strategies that are instrument/industry specific or product/segment, for example.