AthenaTrader 4.2 features more FX tools

AthenaTrader 4.2, to be rolled out in the first quarter of next year, will include features that will give traders a better understanding of their portfolios and the market at any specific time, said Steve Oppenheimer, director of marketing at Aegisoft.

Tools embedded into the newest version of the algorithmic multi-asset execution management system (EMS), which is currently in the development and testing phase, have been added in response to customer requests, Oppenheimer said.

He said customers are asking for more foreign exchange capabilities as transaction volume in the market continues to grow. "They're asking for more efficiencies [between] the front-office trading and middle and back office, and better straight-through processing," he explained.

Several of Aegisoft's financial services customers are piloting AthenaTrader 4.2 and have asked the vendor to develop additional functionality, Oppenheimer said, although he declined to provide the names of the firms. "It seems a lot of these banks are looking at a solution [for electronic FX trading] at the same time."

One of the new FX features added to the EMS will be the ability for sell-side market participants who manage and execute orders on behalf of clients to monitor their traders' activity. For example, users can receive alerts when certain prices are hit or when a certain volume is reached, meaning the credit department can ensure the client has the credit needed to execute that trade.

"[This will allow market participants] to offset any potential exposure before it becomes a problem," Oppenheimer said. "If [the trader] is approaching trading limits, they can make sure they don't exceed them."

The latest version of AthenaTrader will also allow users to sort and customise different data windows to let them manage their clients' order flow in various groups.

It will directly stream market data and both tradable and indicative FX prices, Oppenheimer said.

He added that all the new tools are designed to roll up the activity in the entire portfolio, from the front office to the back office, to allow anyone in the trade cycle to generate a report to view exposure and risk, and carry out various risk calculations.

"These tools help them to not only trade more [efficiently], but also trade faster with more integrated solutions front to back," he said.

AthenaTrader 4.2 will also be able to easily integrate with third-party risk management applications.