FX news: Trigger Trader launched by beta-gamma research
The launch of Trigger Trader introduces, “an entirely new approach to algorithmic foreign exchange trading”, according to the press release. You can’t help but tire of the hyperbole – but at least they didn’t use ‘groundbreaking’.
Cutting through the inflated jargon, Trigger Trader is an execution management system. Aimed at banks looking to automate the spot FX flow without a huge IT budget, it is “a virtual trader rather than a piece of technology”. It is customizable, connects to any platform or suite of platforms and can be installed within a week. Howard Tolman, beta-gamma’s CEO, states that “because of its performance using reasonable flow levels, we would expect it to generate net income for the banks rather than cost.”