A minimum of Test Studio Run-Time Edition is required on your build server.
Here are your options for command line test execution of tests and test lists:
MSTest.exe - use Microsoft's command line utility to execute Test Studio tests.
ArtOfTest.Runner.exe - use Test Studio's built-in execution engine.
Continuous Integration - run automated tests against newly compiled and verified builds.
Telerik.TestStudio.ManualRunner - launch the Manual test runner.
TFS Build Server / MTM Configuration conceptual diagram.