TradePMR has added several new enhanced features to its Fusion custodial trading platform for RIAs.
They include sleeve trading capabilities for model strategies and portfolio options hedging for advisors who are looking to generate more yield via options strategies, the Gainesville, Florida-based brokerage and custodian services provider said.
Advisors can now build a customized portfolio strategy made up of existing models to develop a sleeve within Fusion. Strategies provide real-time asset class information using a direct integration with Morningstar, TradePMR said. An integration with FinMason provides risk scoring and strategy analytics directly in Fusion. Advisors can rebalance across the strategy or at the account level or at the model sleeve level, TradePMR said.
The company also integrated with the multi-asset Flyer Trading Network to streamline trading by eliminating the need to export and upload order and allocation files across multiple platforms, it said. Advisors using third-party portfolio management and rebalancing platforms may now electronically trade equities, exchange-traded funds and mutual funds intraday, TradePMR said.
Fusion’s new Options Hedge feature gives advisors the ability to automatically generate a covered call or protective put position across multiple accounts at the portfolio level, based on advisors’ hedge settings, TradePMR said.
Exchange Traded Concepts, Qraft Launch AI Enhanced ETF
Exchange Traded Concepts partnered with Qraft Technologies to introduce an artificial intelligence-focused ETF.
The Qraft AI Enhanced U.S. High Dividend ETF (HDIV) is trading on the NYSE Arca and has a 0.75% expense ratio, according to the Qraft website.
The new ETF is actively managed and seeks to achieve its investment objective by investing in dividend paying securities of U.S.-listed companies, the companies said in a joint announcement.
ETC, the fund’s advisor, is using an investment process “based on a proprietary artificial intelligence security selection process that extracts patterns from analyzing data” developed by Qraft, the companies said, noting that AI system is called AQUA.
“We have been working together with ETC in efforts to improve the performance of traditional quantitative investment strategies by applying AI technologies,” according to Hyung-Sik Kim, Qraft CEO and its co-founder. “In the future, we expect AI enhanced products have the potential to become substitutes for broad market indices if we prove it with our technologies,” he said in a statement.
Cushing to Rebalance 30 MLP Index
The Cushing 30 MLP Index will be rebalanced this month, according to Dallas, Texas-based RIA Cushing Asset Management and its parent company, Swank Capital.
There will be changes to the constituent weightings but no change to the Index constituents.
The Cushing 30 MLP Index, which trades under the MLPX Bloomberg ticker, tracks the performance of 30 publicly traded midstream energy infrastructure companies, including master limited partnerships and non-MLP energy midstream corporations. The Index price level is calculated by S&P Dow Jones Indices.
BondWave Updates Effi Platform
Wheaton, Illinois-based fintech firm BondWave made several enhancements to its Effi platform, expanding functionality and workflow customization.
Effi enables fixed income traders, advisors and investors to evaluate execution quality, service and monitor accounts, as well as identify and communicate targeted trade ideas.
The latest update includes advanced pre-trade price discovery that is designed to advance users’ best execution and fair pricing processes, said the company, which is focused on fixed income solutions.
The Q1 update includes Effi Market Calculator Saved Calculations that allow users to choose to save pre-trade price calculations and supporting benchmark data sets within the platform’s Market Calculator page. The Effi calculation engine can be customized based on each firm’s requirements and supports mark-up monitoring, mark-up disclosure, fair pricing and best execution, the company said.
Also new are Effi Saved Search, enabling users to save frequent searches and choose to apply them as a default view, and QPaths for Rating Action Alerts in which BondWave’s proprietary QPaths data set analyzes historical rating actions to identify the likelihood of the next event. The predictive analytics have now been incorporated into Effi Alerts to provide immediate and relevant context to each rating action, the company said.
— Check out last week’s portfolio product roundup here: Fidelity Introduces Funds Targeting HSAs: Portfolio Products