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Waters Rankings 2022: Best algorithmic trading provider—BestEx Research

    • WatersTechnology Staff

Overview

BestEx Research is creating what it describes as a “new category” of trading platform with its multi-asset Algo Management System (AMS). The AMS combines execution algorithms, an execution management system (EMS), customization, back-testing, and transaction-cost analysis in a single platform. The AMS is designed to lower trading costs for asset managers and enable banks and brokers to create their own algorithmic trading offerings.

“We evaluated leading algo providers and saw that BestEx Research’s platform delivered best-in-class performance and service. Building on our successful US relationship with BestEx Research, we are proud to work with them again to deliver a next-gen algo platform for ScotiaRED in the Canadian market.”
Pruyn Haskins, head of global equities, Scotiabank

The Solution

According to Stamford, Conn.-based BestEx Research, AMS makes algorithmic trading transparent, measurable and customizable. Its algorithms are designed to reduce costs for users through their limit order placement framework. AMS provides brokers with tools to service their clients – their multi-asset coverage and broker neutrality reduces complexity for asset managers.

Secret Sauce

“Most algorithms do not address the varying volatility, liquidity and market structure of futures,” explains Joel Thorarinson, portfolio manager at WallEye Capital, a BestEx Research client. “Their focus on limit order placement and their partnership in customizing, back-testing and improving performance made their offering very compelling. They have outperformed other vendors.”

Recent Milestones

Within the last year, BestEx Research has developed a new smart order router based on its research published in The Journal of Investing. It has also created Strategy Studio in AMS to allow clients to customize algorithms and A/B test customizations, globalized its futures offering, and announced the development of a Canadian equities platform.

“We are extremely honored to be chosen as the best algorithmic trading provider in the Waters Rankings. This award based on customer polling is a signal of the value our clients see in the services we provide. We look forward to continuing to innovate, across asset classes, dramatically reducing transaction costs for asset managers.”
Hitesh Mittal, founder and CEO, BestEx Research

Future Objectives

BestEx Research’s mission is to make AMS an indispensable tool for hedge funds, asset managers and sell-side firms to support their algorithmic execution functions. While the firm’s focus is on new research to iteratively improve algorithm performance, it is also currently investing in the development of an interactive TCA tool within AMS and expanding into FX.

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