By Zoe Schiff
Itarle, a global provider of white labeled, multi-asset algo trading and smart order routing capabilities, has signed a distribution agreement with London-based Celer Technologies. The arrangement is part of Itarle’s strategy of partnering with leading order and execution management systems.
Under the terms of the deal, Itarle will release new algorithms through Celer’s multi-asset OMS and EMS platform, creating a new channel for adding to the more than 70 financial institutions that currently make use of its private-label trading strategies.
According to Paul Lynch, CEO of Itarle remarked, “Cultivating new relationships with the leading OMS and EMS providers is a logical extension to our services… Our clients will benefit from access to an extended range of markets and additional asset classes through the advanced platform that Celer provides.”
Itarle offers its quantitative trading strategies to sell-side clients only, eliminating potential conflict of interest from maintaining customers on both sides, and minimizing the potential for information leakage.
Ben Cuthbert, CEO of Celer, meanwhile reckons the deal with Itarle “will further extend the trading efficiencies offered through Celer.” Celer’s Fund-in-a-Box offering helps startup hedge funds and execution-only brokers create the kind of electronic trading functionality that allows them to compete with established players.