STAMFORD, Conn., March 2, 2023 /PRNewswire/ -- BestEx Research Group LLC, an independent provider of high-performance algorithmic execution solutions for equity, futures and foreign exchange trading, is pleased to announce a $10 million follow-on investment from its existing investors. The investment will allow BestEx Research to accelerate its growth, expanding its global team as it prepares to roll out a differentiated suite of algorithms for FX and enhancements to existing tools for equities and futures.

Since BestEx Research's Series A funding in 2020, BestEx Research has become a leading independent provider of execution algorithms for equities and global futures to both buy-side firms and banks. Its unique Algorithm Management System (AMS) was recently awarded Best Algorithmic Trading Platform and Best Buy-Side Transaction Cost Analysis (TCA) for equities and futures by Waters Technology. The firm's average daily trading volume has grown to over $2.1 billion with 25 clients now trading, and the team now includes 35 employees in three offices across the globe. The current funding brings the firm's valuation to $110 million.

Founder and CEO of BestEx Research Hitesh Mittal, commented, "Constant advancement is in our DNA. Our vision of extreme transparency, modern algo architecture with research-driven design, and careful measurement of outcomes resonates with our customers. To meet their demand, we're expanding in multiple dimensions to cover additional asset classes and regions and increase the size and scope of our team as we provide exemplary support to users of our products."

Buy-side firms can access BestEx Research algorithms via most execution management systems (EMS) and order management systems (OMS) with no disruption to their workflow. Sell-side firms can use BestEx Research's holistic Algorithm Management System (AMS) to build completely custom execution solutions with no coding required, support their clients via web-based dashboard, backtest custom strategies with its realistic exchange simulator, and measure performance with sophisticated transaction cost analysis (TCA). The award-winning platform can be tailored to provide an unconflicted, high-performance trading experience to any customer interested in reducing transaction costs and increasing transparency around execution.