Tethys Introduces FX Tool
November 17, 2008
Tethys Technology, a provider of trading systems and research, has added a foreign exchange tool for high-volume trading desks to its Execta execution management system. The new solution, which is available immediately and was announced last week at the annual Futures Industry Association conference in Chicago, will "improve performance, reduce trading costs and save time," said New York-based Tethys.
Execta users can now optimize their trading workflow by netting forex trades down to the essential executions, according to Tethys, and "gross executions can be automatically allocated back to source accounts." Such capabilities simplify transaction objectives and cut down on costs. FX traders have been asking "for the same sort of functionality they have for other products," said Nitin Gambhir, co-founder and CEO of Tethys, "such as multibroker, broker-neutral platforms, algos and automating their workflow from the front to back office." The new FX tool, he said, "includes a unique way of trading FX exposures including spots, forwards and swaps that reduces user costs substantially."
