Eze Software Discusses RealTick Enhancements, What's Ahead

Dan Rooney, senior managing director for Eze Software Group, talks with Buy-Side Technology about the cloud-based platform's improved workflow and spread trading capabilities, and previews the enhancements that will be rolled out in the coming weeks, and with RealTick 11.4.

Buy-Side Technology: Eze says this release will provide enhanced execution management workflow. Can you give a specific example of how 11.3 will improve the workflow experience for users?
Dan Rooney: RealTick 11.3 improves execution management workflows by giving additional proactive alerts, triggering a trader to give special care to an order—e.g., notifications when live orders are not getting filled, alerts when new orders have not been accepted, notifications when desired participation rates are not met, indications of expected volume profiles for a specific symbol, and so on.

Additionally, we've given users greater ability to manage their live orders directly out of the Level II or Futures Ladder windows.

BST: Spread trading seems to be a focus of RealTick 11.3. Was this brought on by client demand?
Rooney: Yes, both multi-asset spread trading and continued enhancements to our advanced futures trading functionality have been requested by customers. On the futures side, we have introduced a tile-based multi-asset quote board with full execution capabilities as well as the ability to roll a futures position by creating an exchange-traded spread with a single mouse click.

BST: For UltraLite, how is this streaming of market data different from the past?
Rooney: RealTick UltraLite 3.2 introduces a live, streaming Level II window. The Level II and other watch lists now support fully live streaming instead of one-second polling.

BST: Can you preview any enhancements that will be released in 11.4?
Rooney: Prior to RealTick 11.4, Eze will release a tighter integration between the execution-management system (EMS) and order management system (OMS). This improved workflow should be released and announced in the coming weeks.

RealTick 11.4 will focus on building out our middle-office functionality—connections with Omgeo, more automatic confirmation of transactions (ACT) reporting—and advanced execution via actionable/tradable indications of interest (IoIs), among other things. It will be released in the second quarter of 2015.

[Editor's note: At this year's Buy-Side Technology Awards, Eze Software was named the Best Overall Buy-Side Technology Provider for 2014.]