A news release from the Newark, New Jersey company said the offering is for corporate treasurers seeking greater efficiency in execution when repurchasing company shares.
“Stock buybacks rose 92% in the latest quarter (according to S&P) and corporate treasurers looking to repurchase shares in the new electronic marketplace need a broker experienced in algorithmic order placement and electronic execution,” said Fred Graboyes, president of TradeTrek, an institutional broker-dealer, in the news release. “Our buyback algorithm is engineered to adhere to SEC Rule 10b-18 by systemically tracking volume and price, resulting in a more consistent performance throughout the repurchase.”
The Corporate Buyback Algorithm is the firm’s ninth proprietary algorithm since the company was launched last year.
“Because all orders are placed electronically in a systematic fashion, the Corporate Buyback Algorithm minimizes market impact and reduces information leakage,” said George Rodriguez, managing director of TradeTrek, in the news release.
Beyond its proprietary algorithms, TradeTrek Securities also provides clients with customized algorithms tailored to complement a portfolio manager’s specific strategy.
For more information on TradeTrek Securities and the entire menu of Algorithm Trading Solutions’ contact George Rodriguez at (973) 286-8142.