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FlexTrade Systems has announced that it is the first provider to offer Goldman Sachs’ real-time Order Status Updates (OSUs) for algorithmic equities trading via a proprietary API. The integration allows buy-side firms to access detailed analytics directly within FlexTrade’s OEMS Order Blotter, offering a new approach to real-time order monitoring.
The collaboration marks a shift in how Goldman Sachs delivers execution data to clients. The OSU feed, part of the firm’s new GS Alerts suite, replaces traditional FIX-based delivery with an API connection designed to improve performance, minimize overhead, and expand available data metrics. It includes details such as expected residuals, estimated quantity reserved for the close, and average participation rates for orders across developed and emerging EMEA equity markets.
“This is set to fundamentally change how we deliver data to the buy-side”
Alex Harman, Managing Director at Goldman Sachs, commented, “We are thrilled our OSUs are now available via FlexTrade. This is set to fundamentally change how we deliver data to the buy-side, providing clients with greater transparency and oversight of their orders. Until now, Order Status Updates have been delivered by the market in unstandardised formats and channels, presenting delivery challenges and impacting the buy-side’s experience consuming data. We have therefore opted to deliver OSUs via an API, increasing the breadth of data available to clients via a scalable and robust protocol.”
FlexTrade said the data is fully embedded within the Order Blotter interface and can be combined with existing tools such as FlexAlgoWheel for automated order management. Clients can configure alert rules or make strategy adjustments based on the live metrics without relying on separate dashboards or manual data requests.
Andy Mahoney, Managing Director, EMEA at FlexTrade Systems, stated, “Our clients include some of the largest, most complex financial institutions globally who regularly handle vast numbers of orders and executions. Adding any data, no matter how valuable to the end user, on top of a critical trading protocol has always been unnecessarily burdensome, which has stifled innovation. With API delivery of OSUs, it’s now possible for clients to receive a broadened range of analytics at an increased frequency, without adding message traffic or protocol overheads. Now, they can efficiently receive a comprehensive data set which improves transparency, helps adjust trading styles, and contributes to better decision-making.”
The companies said the integration simplifies data consumption, streamlines trading operations, and offers buy-side firms a unified view of performance metrics within their existing execution management workflows.
