Is it really all go with algos?
Euromoney October 2006
Or is it the Emperor and his new clothes?
Barclays adds algo bite to Barx
Love it or loathe it, algorithmic trading looks set to stay.
Euromoney September 2006
Innovation or spin? Another month, another platform
... overseeing another foray into the market, and Currenex has added a host of new bells and whistles to its platform to please the algorithmic trading fraternity ...
Euromoney June 2006
Algorithmic foreign exchange is more than just flavour of the month
Euromoney April 2006
There has been a lot of talk about the use of computerized trading in foreign exchange. Discussions at a recent seminar in London suggest that there is real substance, not just hot air, behind the chat.
Do the big FX banks need a new platform?
Euromoney December 2005
The world’s largest foreign exchange banks have made a mistake in streaming prices to scores of electronic platforms and inviting everyone to participate in them. Now, they want to take back control.
Reader's responses to the above story:
Trading: Answers to the problem with FX
Euromoney January 2006
It seems that participants in the foreign exchange market have a slightly different view of algorithmic trading to those in other asset classes and products. Generally, algorithmic trading in cash equities and futures refers to a type of programme trade designed to achieve better execution. FX players seem to use the term to describe most aspects of programme trading but especially arbitrage in the form of what used to be disparagingly referred to as sniping.
The FX debate – a response from RBS
Euromoney March 2006
BuySide Struggles With Algo Glut
Published October 2005 Institutional Investor
Brokerage firms are racing to create new trading algorithms to hawk to the buy side, but the buyside isn't buying the hype. Funds are overwhelmed by the number of new products on the market, but still don't get enough service to be informed about correct use of the programmed trading strategies, traders said at last week's World Research Group conference. There are 28 algorithm providers peddling five to seven algorithms each, and buy-side traders say they're hard to compare.
Euromoney August 2005
In the meantime, liquidity has not changed dramatically and the interest of not being read by the market is higher than ever. This explains the high demand for such strategies as Icebergs and algorithmic VWAP trading. These strategies are not just another fad. They represent the natural evolution of the market, concentrating its attention where its transaction costs are. These developments will become an intrinsic part of all firms' development strategies and will prompt large investments in this area, if only as a defensive measure. This approach is gradually being applied on other asset classes other than equity.
Goldman goes for desktop domination
Euromoney March 2004
Programme trading now accounts for about 40% of all volume on the New York Stock Exchange. Algorithmic trading is the latest development. Any broker-dealer with any pretensions of staying in the game either has developed or is developing a technology platform. At some point there is bound to be a way for technology to take on much of the higher touch business.
Risk management
Euromoney Market monitor April 2003
One banker in fixed-income technology is cautiously upbeat: "Algorithmics offers a good risk management package and this system is likely to be quite attractive, in particular to the second-tier institutions that don't have the resources or inclination to build their own."
Founder and chief executive DE Shaw & Co
Euromoney October 1997
Shaw set about building a hedge fund that exploited tiny short-lived price differences between multiple international markets, for example, the difference in price of a particular stock between New York and London, without actually betting on market direction - a method known as algorithmic trading - while at the same time driving down the transaction costs.