Banks Get Algo-Trading Tool With No Coding Needed Through BestEx Research

BestEx Research Group LLC, which operates a trading platform driven by algorithms, is offering an electronic tool to banks so they can build their own algos without having to write the code themselves.

The technology firm’s new tool, Strategy Studio, gives buy-side clients and brokers the ability to build algos, helping cut costs and time, said Hitesh Mittal, BestEx’s founder and chief executive officer. Each algo can be matched to a bank or broker-dealer’s trading objectives.