In Brazil algorithmic trading platform are becoming essential for banks that aspire to provide a complete global trading offering to their clients.
UBS launched a set of execution algorithms to institutional investors in mid-November 2009. Bank of America Merrill Lynch and Credit Suisse have also launched platforms in recent months and are gradually increasing client numbers.
Owain Self, head of algorithmic trading for EMEA and the Americas at UBS, says: “As time goes by it is increasingly clear that as more and more clients come onto these algo platforms there will be an increase in fragmentation, with smaller slices of orders hitting the market.
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