Agency-only brokerage firm Triad Securities has partnered with BestEx Research Group so that its clients may access BestEx’s newly-launched, next-generation algorithmic trading platform.
BestEx Research Group is an independent, algorithmic trading software provider founded by industry veteran Hitesh Mittal, who previously served as head of AQR’s Global Trading Strategies Group. The firm’s broker-neutral trading solution combines expert consultation with sophisticated execution algorithms, a back-testing platform and multi-asset TCA capabilities, allowing investment managers to access the liquidity they need while minimizing trading costs and information leakage.
Hitesh Mittal, Chief Executive Officer at BestEx Research Group, said:
“Triad has built a loyal client following over the past 45 years by focusing on service, independence and technological innovation. Those are many of the same tenets on which we’ve built our business, so we’re excited to partner with them to bring our high-performance platform to their client base.”
Kevin Schultz, Chairman of Triad Securities, said:
“The BestEx platform was built using robust quantitative design techniques and back tested with thousands of simulations to minimize spread costs, market impact and adverse selection. We believe this represents the next generation of algorithmic trading and are excited to add their innovative new suite of trading tools to our existing algorithmic offering. Our flexible and customizable trade execution platform allows traders to access a variety of algos using their preferred order entry method, from fully electronic all the way to spreadsheet. We specialize in servicing clients in whatever way best meets their workflow needs, and the BestEx platform will allow us to add an important new arrow to our quiver.”
BestEx Research Group has recently launched its new algorithmic trading platform and partnership with agency broker Abel Noser, who will offer the solution to 500 fund managers. BestEx’s simulation platform analyses months of tick data to assess algorithm behavior in accordance with the exact rules of each exchange, thereby eliminating the trial-and error-approach typical of many market offerings.
BestEx Research Group, headquartered in Connecticut, should not be confused with Australia-based BestEx, a specialist, electronic trading firm that enables investment managers to achieve the best execution in global equity markets.
Triad Securities Corp. was founded in 1976 as a full-service agency only discount brokerage firm. Currently, it has its corporate headquarters in the Wall Street area of New York City. Triad’s products and services comprise three categories: prime brokerage, the New Issue Service, and the U.S. and international equity and fixed income execution.
