BestEx Research

BestEx Research provides sophisticated algorithmic trading solutions for equities, futures, and foreign exchange (FX). The company's core offering is its Algorithm Management System (AMS), a cloud-based platform combining execution algorithms, customization tools, transaction cost analysis (TCA), and order management capabilities.

BestEx Research's algorithms leverage proprietary techniques like dynamic limit order placement that adapt to market conditions, optimizing for factors such as volatility, liquidity, and exchange order matching rules. This enables the algorithms to effectively minimize implementation shortfall for low-urgency orders. The AMS platform also includes innovative tools like Strategy Studio, which allows users to build and customize algorithms with no coding required.

In addition to its algorithms, BestEx Research provides value through performance measurement via TCA, backtesting with an exchange simulator, and automated A/B testing capabilities. The platform caters to both the buy side, enabling traders to access the algorithms through their existing systems, and the sell side, supporting brokers in creating proprietary algorithmic offerings for their clients.

Key customers and partnerships 

As of March 2023, BestEx Research's average daily trading volume exceeded USD 2.1 billion across over 25 clients. In February 2022, BestEx Research expanded its futures offering to include access to major European and Asia-Pacific exchanges like Eurex, Euronext, SGX, and ASX, in addition to crypto futures on CME. 

In October 2022, Scotiabank launched a next-generation algorithmic trading platform developed in collaboration with BestEx Research. Tailored for the Canadian equities market, this offering combined BestEx Research's algorithms with Scotiabank's market structure expertise, providing institutional investors with a unified order experience across the Americas.