Algorithmic Trading Platform Tradeworks Eyes China Marketsby Fintech News Singapore September 21, 2017
Copenhagen and Singapore-based trade automation platform Tradeworks is about to launch Tradeworks 3.0, a new upgraded platform intended to take the company to the next level.
Built from the ground up, the new platform will include many improvements including a brand new interface and a marketplace for algorithms.
The new iteration will, above all, be lighter, faster and even more intuitive to use. Also, many additional features will be added to the popular built-in Tradeworks backtest feature offering traders more data and metrics to assess the robustness of their strategies. Social features are an integral part of the product roadmap and will also be added in later releases. A separate feature in Tradeworks 3.0 is the ability to integrate easily with brokers who have already adopted the MetaTrader 5 (MT5) platform.
The move comes as Tradeworks is preparing to formally launch their product in China where they have already been approached by several retail brokers.
The company is currently in pre-Series A mode and talking to a host of strategic investors and collaborators to assist them with their China strategy.
“With its growing IT and financial literacy combined with the enormous and rapidly growing middle-class, China is an incredibly important market. We are continuously evaluating our options as how to best
establish ourselves there and it is not impossible that we end up partnering with a local institution or fintech player.”
Thomas Nyegaard, co-owner and Head of Business Development of Tradeworks, told Fintechnews.sg.
Founded in 2013, Tradeworks is a software-as-a-service company launched by experienced entrepreneurs with an ambition to improve online financial trading. The founders questioned the gap between the trading tools and technologies available for individual traders and those being used by institutional investors and set out to ‘even the playing field’.
“We found it intriguing that algorithmic trading, which had seen explosive growth among institutional investors during the past decade, was still considered as inaccessible for retail investors and traders.”
“One of the obstacles for widespread adoption of algorithmic trading among retail investors is the need to master code-language. As a result, we set out to develop unique and innovative software which enables talented people worldwide to create and monetize trading algorithms without any need for coding.” Thomas Nyegaard explains.
Thomas Nyegaard adds: “The technology required to run algorithms used to be cumbersome and expensive. But now, thanks to cloud-based technology, powerful computing technology is becoming more and more accessible which in return opens up interesting opportunities”.
“Of course, algo-trading is a lot of things depending on who you ask. Our aim is to give the self-directed investor the best possible tools to embrace rule-based trading in a simple and effective way allowing him/her to gain considerable advantages in terms of data processing speed and the ability to curtail human emotions,” Nyegaard continues.
Tradeworks has built an innovative, cloud based, trading platform combining powerful trading technology with a readily accessible user interface. Here, traders can optimize their trading performance by easily designing and running trading algorithms without any need for programming.
In order to help less experienced traders get an easy start to algo trading, Tradeworks launched an in-app template strategy library earlier this year where traders can find read-made strategies and their performance over the past 5, 30 or 90 days.
“We are basically a full service platform, supporting traders all the way from the creation of an algorithm through to testing, deploying and subsequently running detailed, real-time, performance analysis of the algorithm,” underlines Tradeworks CEO Mikael Breinholst.
“This makes us unique in the marketplace. All other alternatives will inevitably involve code-language, complicated integration processes and set-ups requiring VPS etc., which tend to throw off most people before the get go. Our platform will be the center of an ecosystem where talented individuals can create and monetize their algorithms by offering these to less experienced investors,” Breinholst continues.
Tradeworks CEO Mikael Breinholst: “Our long-term ambition is to become the leading algorithmic trading platform for self-directed traders around the world trading any asset class”.
Tradeworks has so far been catering to both brokers and traders, and the company plans to grow its B2B presence in the market through partnerships with online brokers in Asia, Europe and the Middle East. The company already has offices in Copenhagen, Cyprus and Singapore.