Date: December 11, 2003
Publication: Wall Street and Technology By: Staff

Electronic-Trading Newsflashes

Rosenblatt Securities, an agency-only broker, went live with FlexTrader over the Linux operating system in October for trading listed and over-the-counter (OTC) securities on behalf of its money manager and broker/dealer clients. "As the markets evolve and continue to demand more complex trading strategies and time-slicing algorithms, FlexTrader will help us provide even better service to our transaction cost-sensitive institutional clients," states Richard Rosenblatt, Rosenblatt's President & CEO.

FlexTrader is a fully customizable system with pre-defined trading strategies and tactics for lists as well as single stocks. Rosenblatt is able to implement trading strategies by simply tweaking the VWAP (volume-weighted-average-price) and other algorithms offered by FlexTrader, states Joseph Gawronski, Rosenblatt's chief operating officer in the news release.

The firm picked FlexTrader from FlexTrade Systems after an analysis of other systems, citing its time-to-market needs without taxing its IT resources and its broker neutral platform as factors. Rosenblatt chose to run FlexTrader on Linux for the operating system's reliability, functionality and low cost.

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