Trading technology pioneer REDI Global Technologies has announced today the launch of its advanced new Spread Trader. It is available immediately to all REDI clients globally.
With Spread Trader, users can trade pairs of securities using a variety of market-neutral strategies – including ratio, risk arbitrage and relative price – designed to help maximize spread capture and minimize execution risk.
Spread Trader is one of the first applications to be rolled out on REDI’s next generation platform, which included a rewrite of the entire technology stack. Spread Trader is written in HTML5 running in a secure OpenFin container, enabling changes to be seamlessly deployed on the back-end without requiring users to upgrade versions.
Adrian Stack, Product Manager – Spread Trading and Derivatives, commented:
REDI has long been known for our spread trading capabilities, and we’re happy to build on that legacy with the launch of our next generation, multi-broker Spread Trader. Our beta users have found it to be a significant step forward in terms of performance and usability, and we’re excited to now roll it out to our global client community.”
Spread Trader is ideally suited for firms employing event-driven strategies, either opportunistically or primarily. According a recent research report by Catalyst Financial Partners, event-driven strategies have been one of the most lucrative approaches employed by hedge funds over the last several years, a trend that it sees continuing along with Long/Short Equity, Macro and Quant & CTA strategies.
As a merger arbitrage fund, our alpha is driven by our ability to effectively trade spreads, which makes the trading platform we use incredibly important,” said Steven Gerbel, Founder and CIO of Chicago Capital Management (CCM). “We’ve participated in the beta testing of REDI’s new Spread Trader for the past three months, and have been very impressed with its performance and intuitive design.”
Just few weeks ago business information giant Thomson Reuters Corp (NYSE:TRI) has signed a definitive agreement to acquire REDI Holdings. The acquisition is expected to close by the end of Q4 subject to customary closing conditions including regulatory approvals.