InfoReach - Electronic Trading Technology

OVERVIEW • QUICK SUMMARY • DELIVERY • ARCHITECTURE • FEATURES • DESKTOP TOOLS

INFOREACH TMS combines order entry, rule-based trading, order management and FIX connectivity in a single broker-neutral trading platform.

Product capabilities include trading of various security types as single instruments or baskets, order routing, pre and post-trade allocations, automation of execution algorithms, and real-time position monitoring. While the product offers a broad range of functionality, it can also be easily configured to deliver just a subset of required features.

Implemented in Java and it can be deployed on a variety of operating systems.

System type:	Trade Management System (TMS)	Configurability:	Reports, charts, actions and trading rules
Security types:	Equities, futures, options and FX	Execution endpoints:	Any FIX-compliant destination
Target audience:	Hedge funds, buy side and sell side	System architecture:	Three-tier client-server
Trading scope:	Baskets, single orders and pairs	System extensibility:	Java, C++ and ActiveX APIs
Order control:	Algorithmic and/or manual

ON-SITE INSTALL		ASP-HOSTED

TMS can be installed locally at customer’s network. In such case computer hardware has to be provided to accommodate components of TMS. Customer may choose to procure they own servers or have InfoReach provide a turnkey hardware/TMS solution. Additionally, customers are expected to supply network connectivity to the execution venues and/or their clients.		InfoReach provides hosting of TMS at its data center. This includes hosting of computer hardware, market data and brokers connectivity. Hosted solution requires zero installation at client site. There are two hosting options available: ASP Dedicated. All computer hardware hosting TMS is deployed exclusively for single customer. This deployment option is geared toward firms with greater number of traders or due to intensity of trading not wishing to share resources with others. ASP Pay-Per-Use This is a viable option for traders wishing to take advantage of the advanced execution platform but do not need to trade every day. Pay-Per-Use alternative allows them to pay only for the days they use the system to trade

What makes TMS superior to other products?

FUNCTIONALITY

PERFORMANCE

RELIABILITY

SUPPORT

INFOREACH TMS is a three-tier client-server application. The first tier is the user interface, which runs on the user's computer (the client). The second (middle) tier is a collection of the functional modules that actually process data. This middle tier runs on a server. The third tier is a database management system (DBMS) that stores the data required by the middle tier. This tier runs on a second server called the database server. The three-tier design has many advantages over traditional two-tier or single-tier designs, the major ones being:

Running execution algorithms on the server yields a more protected and dedicated environment. Performance of the algorithms is not affected by other applications running on the client’s computers. The rebooting of the clients’ PCs that are more common then those of servers will not interrupt active algorithms.
Firm-wide consolidation and sharing of trading data in real-time.
Modular approach facilitates better fault isolation where the failure and recovery of one module does not require the restart of the rest of the system.
Increased scalability allows distribution of components across multiple servers, thus increasing the amount of resources available for the TMS.
Separating the application functions from the database functions makes it easier to implement load balancing.

The ability of INFOREACH TMS to deliver functionality, performance and reliability rests on its architecture - a fusion of academic knowledge and practical engineering experience cemented by years of tedious work.

Security Types

Supports trading of multiple security types,including stocks, futures and options.

Order Entry

Trades can be entered via customizable order entry dialogs, quote list and quote montage screens or through the use of quick order entry panels. Trades completed "away" from INFOREACH TMS can be also entered into the system.

Basket Trading

Supports portfolio, index, pairs and client basket trading. System provides a set of tools for the convenient management of baskets and waves of orders.

AutoTrader

A component that automates the process of trading by providing an environment for the creation and testing of user-defined strategies.

Market Data

Compatible with a variety of market data vendors, including Reuters, Bloomberg, Comstock, ILX and Hyperfeed.

Strategy Back-Testing

To facilitate the testing of trading and execution strategies, INFOREACH TMS allows the play back of historical tick data and also provides broker simulators.

Positions

Maintains real-time intraday positions for both instruments and accounts. Start-of-day positions can also be imported either automatically or on demand.

Allocations

Pre-trade, post-trade and real-time rule-based.

Trade Management

Consolidates company wide trading flow and delivers reports to managers and trading desks as real-time tables and charts.

Order Routing

Orders received from multiple clients can be routed to a choice of destinations. Routing destinations can be internal (trading desks, baskets and AutoTraders) or external (exchanges, ECNs, brokers, consolidators).

Execution Black-Box

Companies can leverage INFOREACH TMS as a broker-neutral execution black-box through the use of Java, C++ and COM Application Programming Interfaces (APIs).

Connectivity

A full featured FIX Engine which supports Financial Information Exchange (FIX) protocol 4.0 and above, as well as FIXML is included. To assure quick connectivity INFOREACH TMS is certified with various brokers and ECNs.

Basket trading		Basket interactive charts
Single order trading		Configurable reports and charts