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Triad Securities Expands Product Portfolio With BestEx Execution Algorithms

Triad Securities, a full-service prime brokerage firm for hedge funds, family offices, RIAs and traders, announced its partnership with BestEx Research Group, allowing its clients access to next-generation algorithmic trading capabilities.

Benzinga · 03/13/2020 19:17

Triad Securities, a full-service prime brokerage firm for hedge funds, family offices, RIAs and traders, announced its partnership with BestEx Research Group, allowing its clients access to next-generation algorithmic trading capabilities.

What Happened

BestEx is a tech and trading software company at its core; the firm was founded by Hitesh Mittal, the former head of AQR’s Global Trading Strategies Group and ITG’s algorithmic trading business. BestEx’s solutions are broker-neutral and offer investment managers access to liquidity as well as reduced trading costs and information leakage.

“Triad has built a loyal client base following over the past 45 years by focusing on service, independence and technological innovation. Those are many of the same tenets on which we’ve built our business, so we’re excited to partner with them to bring our high performance platform to their client base,” said Mittal.

BestEx’s Core Product Portfolio Consists Of The Following:

  • Execution algorithms.
  • Algorithm backtesting.
  • Web-based trade dashboard.
  • TCA analysis tools.

“The BestEx platform was built using robust quantitative design techniques and back tested with thousands of simulations to minimize spread costs, market impact and adverse selection. We believe this represents the next generation of algorithmic trading and are excited to add their innovative new suite of trading tools to our existing algorithmic offering,” added Kevin Schultz, Triad Securities Chairman.

Next Steps

“We operate squarely in the fintech world,” Schultz told Benzinga

According to Schultz, Triad aims to further its involvement in the AI and algorithmic trading business, evolving into an industry leader; “In the next five years, we will be moving from some of our traditional business to these tech driven platforms, which will allow smaller players to be nimble and compete with Goldman Sachs and J.P. Morgan – organizations like that.”

To learn more about Triad Securities and it’s portfolio of products, visit triadsecurities.com.