More on algorithmic trading
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Foreign Exchange

More on algorithmic trading

Algorithmic trading has met both support and cynicsm over the years. Has the FX market fully embraced the idea? More importantly, should it?

Is it really all go with algos? Euromoney October 2006Or 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.

Pulling it all together

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.

Traders move up a gear

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."

David Shaw 

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.

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