This morning, Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and digital asset exchanges, announced that it would begin integrating its patent-pending TradeScript library into its Digital Asset Exchange Solution. After a revolutionary overhaul, the latest version of TradeScript is now 300 percent times faster than before, and it is a truly interpreted programming language.
“This is groundbreaking because of the host of options to which traders will now have access,” said Richard Gardner, CEO of Modulus. “For traders using exchanges which run the Modulus technology stack, once this implementation is complete, they will see a new menu option which opens a page specifically for TradeScript. From there, they will be able to experiment with trading strategies and even share them with the world, if they so choose.”
The integration will allow traders to write new trading strategies, backtest them (including results with a P&L chart for performance and over 24 statistical outputs such as Sharpe, Calmar, and Sortino ratios), and then, either save it for personal use or publish it for public consumption (social trading). The script will run 24/7 until the user pauses or deletes it.
“What this does is give more power to traders. Information is power, and, especially as Main Street investors are beginning to engage more heavily with cryptocurrencies, it makes sense to give them as much information as possible, so they can digest it, and make good investment decisions. When strategies are made public, other traders can subscribe to them and follow their performance data, so they can choose whether or not they wish to use it as a piece of their own trading strategy moving forward,” said Gardner.
Once subscribed to a signal, users can get alerts sent to their phones via SMS or email. They can additionally enable auto-trading, which will generate new market orders. Once subscribed, the trader would specify how much to trade as a percentage of their account, not to exceed 5%, with new orders limited to one per hour unless there is an open position, in which case an order may be allowed to close an existing open position at any time. Because auto-trading can involve higher than normal levels of risk, users will see a disclaimer which details the risk involved before enabling the auto-trading function.
“With this, we’re hoping to do two things. First, we want to give traders more information from which they may base their decisions. And, we also want to build a community. Traders will be able to create profiles that are linked to accounts, allowing them to create a network of followers. I’ve always believed that technology is the great equalizer. All you need to succeed is to have good ideas which add value. This implementation will allow traders to show others just how good their ideas are — and how much value they create. Cream rises to the top, and, for a handful of traders, they could see significant upside, beyond just the access to industry-leading trading information,” opined Gardner.
Modulus is known throughout the financial technology segment as a leader in the development of ultra-high frequency trading systems and blockchain technologies. Over the past twenty years, the company has built technology for the world’s most notable exchanges, with a client list that includes NASA, NASDAQ, Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, Siemens, Shell, Yahoo!, Microsoft, Cornell University, and the University of Chicago.
“When we saw the groundswell of new traders entering the digital assets and cryptocurrency market, it just made sense to us to make the technology that had long been available to traders in traditional financial markets available to the crypto community. And, while we were at it, we upgraded all the technology components, too. TradeScript always led the industry in terms of its value to traders. Now, we’ve expanded its reach, while simultaneously making it easier to use and increasing its functionality,” said Gardner.
