22.02.10
Last week, Baird signed an excepting agreement to provide its clients with Fox River's algorithmic trading strategies. For Baird, the reckon with gives the Milwaukee-based firm's customers another way to pay for inquiry, while offering a differentiated product.
For Fox River, the deal puts the resolve's algos on more desktops. The Geneva, Ill.-based firm is an manner-only shop that offers algorithms, but does not have a research upshot. The deal with Baird introduced Fox to a new group of money managers--those who use algorithmic trading to pay for their explore.
Dan Renouard, chief operating officer of institutional equities at Baird, called the partnership a win-win. "We've married up the A- of what each of us has to offer," he said. The deal was driven by clients, he added, as they did not demand another white-labeled algo from a broker they already did business with. Clients wanted something personal, he said.
Trade-cost analysis vendor Elkins/McSherry has rated Fox River as the top algo provider for the stretch from 2007 through 2009, according to a Fox River press release.
Source: Traders Magazine