baskets in redi

does redi currently have the ability to enter basket orders (that is to buy all of for example the financials at once)?

 

Yes, but not straight out of the box. It's an add on that you have to have enabled by your broker.

 

With the Redi/Excel Add-ins, you can easily make your own basket spreadsheets. Just get active-x, plug in, and set it up.

Don

 

LOL, yeah, since Goldman Sachs has thousands of high dollar users with Redi, and spent $millions on it when they bought Redi along with SLK, it really "sucks" - Redi is excellent, constantly updated, and works seemlessly...and not cheap...much cheaper "white label" products out there.

I admit that a few years back, when SLK was selling itself to GS that they let things slide for a year or so, but our people really like it.

Platforms are such a "commodity" now, just like computers. I remember when everyone was excited about having "fast" computers, which by today's standards are real 'POS' - anyway, with everything from simple writitng to the API to extremely fast FIX connectivity, all my groups are happy - and the support is excellent.

When all is said and done, platforms are just a tool in the hands of a mechanic.

Don

 

these day's most trading technology is like a mufler or a car or an offensive line in football somthing that is only noticed if it messes up.

 

Excellent point, I agree.

Don

 

Call your GS account rep and see if your agreement allows for Redi+ portfolio trader (their "basket trader") and see if you can get their spread trader while your at it. The spread trader is pretty nice but your id will need to be changed over to their integrated pt server which takes some time.

 

what exactly are baskets and how do they work?
thanks

 

Well unfortunately "baskets" can imply many things. Some limited examples are say going long DIA or associated future against a basket containing XOM, C, and MO with some proprietary weightings or another could be DIA-SPY-QQQQ-IWM. The meaning as of 5-6 years ago would of been a partial basket of the DOW (insert any index here) against a partial basket of its components which originated from the dispersion desk side of things to bet on variance levels of the index against that of its components and taking on correlation risks between the two.

Another basket could possibly be long stocks that are identified as undervalued and short those in who are overvalued in a sector by some model (say cointegration, PCA, ICA, insert pretty much anything in here).

The list goes on.....It can involve options, futures, fx, insert instrument(s) here but the complexity obviously increases as thing such as gamma, vega, delta, etc enter the picture with some instruments.

 

When I say baskets I mean that I want the ability to set up and watch and group of stocks for example 10 semi conductors and if I want to buy or sell them all. For example if Big enough positive news hits about Mrk I might want to be able to buy all of the 5 drug stocks I follow on one click.