The collaboration creates a powerful combination of increased functionality and expansion of smartTrade's platform user base by offering users more control over trading strategies and trade order execution, while allowing them to dynamically manage and deploy business policy changes via ILOG JRules. For ILOG, the agreement will further expand the footprint of ILOG's BRMS within trade order management systems.
ILOG'S BRMS AUTOMATES AND PERSONALISES TRADES
STTP is the foundation of the smartTrade Trading Suite, which replicates online the negotiation process that currently occurs either between traders, sales and clients over the phone, or in a physical exchange. Prior to the ILOG JRules-STTP combination, the sophisticated decision-making processes for determining trading strategies in this environment had to be built by hand and then executed either manually or using cumbersome calculation engines. ILOG JRules BRMS enhances STTP by automating selected trading activities. In addition to automating trading strategies, using ILOG JRules, traders can quickly define their own business rules based on market conditions, trigger the execution of multiple orders across a variety of assets and change the rules themselves as needed without IT intervention or technical support.
Trading strategies are the proprietary assets of financial institutions that have been fine-tuned over the years. The ILOG JRules/STTP combination has been designed to embed a client's proprietary rules, rather than imposing pre-defined ones, enabling financial institutions to leverage their trading strategies directly in the trading platform.
"With the inclusion of JRules as an optional component around STTP, we'll bring a new dimension to what electronic trading enables today", says Harry Gozlan, CEO and founder of Smart Trade Technologies. "On top of bringing transaction costs down and increasing speed and efficiency in the way trades are completed, electronic trading must also bolster the possibilities of trading strategies by enabling more combinations between orders, instruments and decision rules".
ABOUT SMART TRADE TECHNOLOGIES
Founded in 1999 by financial markets and IT professionals, Smart Trade Technologies is an Independent Software Vendor (I.S.V.) developing and selling a suite of software components exclusively dedicated to the trading and distribution processes of financial instruments within a financial institution. All components are centered around the smartTrade Trading Platform (STTP) a powerful numerical electronic trading and distribution engine built to support natively all types of financial instruments. STTP is accessible through various APIs (in Java, .Net and COM), allowing to rapidly develop specific front-ends, auto-dealing engines, and to respect all existing legacy environments. High Availability (HA) features are fully embedded within STTP Architecture, offering uninterrupted service during runtime.