Bright Trading was formed in 1992 to provide off-exchange trading rooms for Professional, Proprietary stock traders. Since then, BT has grown to be one of the largest firms, with more than 40 locations in the U.S. and Canada. It is designed to give professional traders an opportunity to enhance their trading results through the use of high-speed, high-quality execution systems, use of the firm’s capital, and extremely low transaction costs – with no ticket charges.
Bright Trading uses Rediplus, which is Direct Market Access stock software tools developed by Goldman Sachs Execution & Clearing. It has its presence in all the major markets like U.S., Canadian, European and Asian sources of liquidity for equities. It has some nice features and is very easy to use. It offers traders the flexibility and speed needed in today’s marketplace. It is very reliable in nature and simplifies trading process to a great degree. The clients can trade across domestic and international markets among various investment schemes from equities to options and futures. It also simplifies manager workflow to a great extent by providing only one trading platformto trade single stock orders, baskets, and algorithms.
In terms of share volume Rediplus is the largest direct access stock trading software provider and is a great system as it provides all in one execution system that can be customized for hot-keys, buttons & excel spreadsheet. It is used with a chart package like AT Financial or e-signal. The new version Rediplus 5.0f offers foreign exchange trading, options spread trades, complex option order types and futures algorithms. AlsoRediPlus 5.0 offers the ability to enter a number of different spread orders, such as ISE straddles, as well as combos and butterflies. In foreign exchange, RediPlus 5.0 provides buy- and sell-side traders with access to 60 currency pairs, with request-for-quote liquidity offered by Goldman Sachs.
There are many drawbacks in the system along with the positives. Many times during scalping operations other traders beat the ones using this software thus making huge profits. The system has to have latest operating system else it will not support Rediplus.
The system’s out of date now and others have gone way ahead. The charting technique is not what it is in other systems. Still it is powerful software having the best execution-only platform among others. It is one of the best institutional order platforms available to date