News for the Algorithmic and Automated Trader
Welcome to our mini Algo Trader Website, we aim to cover news, rumours and other news sources that other website simply miss!
A third of all EU and US stock trades in 2006 were driven by automatic programs, or algorithms, according to Boston-based consulting firm Aite Group LLC. As of 2009, high frequency trading firms account for 73% of all US equity trading volume.
In 2006 at the London Stock Exchange, over 40% of all orders were entered by algo traders, with 60% predicted for 2007. American markets and equity markets generally have a higher proportion of algo trades than other markets, and estimates for 2008 range as high as an 80% proportion in some markets. Foreign exchange markets also have active algo trading (about 25% of orders in 2006). Futures and options markets are considered to be fairly easily integrated into algorithmic trading, with about 20% of options volume expected to be computer generated by 2010.[7] Bond markets are moving toward more access to algorithmic traders.
July 26th, 2010 - New position to support growing business in commodity derivatives and physical markets
Barry White, Patsystems Regional Director, Asia Pacific: "By utilising Patsystems' ASP hubs in both Hong Kong and Tokyo, Okachi can take advantage of the unique exchange connectivity options available through XConnect." Patsystems has announced that Okachi (Hong Kong) Co., Ltd., the Hong Kong branch of Japanese Future Commission Merchant Okachi & Co., Ltd., has signed a license for Patsystems XConnect via Patsystems' new ASP hub in Hong Kong. XConnect is Patsystems' new Application Service Provider (ASP) offering and is made up of ASP hubs in Tokyo, Hong Kong, Singapore and Sydney.
In Asia Pacific this week XSP launched its ASP corporate actions solution, Patsystems introduced its own new fully-managed ASP offering XConnect, and launched three new ASP hubs across the region. Meanwhile SMX informed us of a Euro-US Dollar Futures contract for the Asian trading timezone. Expansion into Russia and Eastern Europe continued as Investment Technology Group announced the availability of its entire range of European algorithms across Hungary and Poland, CQG and Broco partnered to expand trading connectivity in Russia and Eastern Europe, and NASDAQ OMX was selected to provide market data audit services for the Moscow based MICEX Group. Exchange news as ISE introduced Do Not Route Orders for increased control over order execution, NYSE Technologies launched an Order Routing Direct connectivity service. In other industry news Atrium Network extended foreign exchange connectivity to both Hotspot FX and FXCM., Sapient Global Markets partnered with Numerix for integrated pricing and analytics, SWIFT is to acquire Ambit Messaging Hub Assets from SunGard and Barclays Capital announced the launch of a new web-based real-time equities trading analytics application, Portfolio WebBench® Live. The Q3 print issue of Automated Trader is about to hit the stands, if you want to be sure of receiving your copy please click here. And finally, if you're looking for a new position or to hire for your company, please visit the Automated Trader Jobs Page where, amongst many others, you'll find the following vacancies: Data Mine Sales Manager QUANT TRADER / PORTFOLIO MANAGER (ASIA) Algo Execution Trader Proprietary/Independent Traders Global Head, Algorithmic Trading Technology
Following the announcement of the co-operation between ABN AMRO Clearing (AAC) and tick-TS in February this year, AAC and tick-TS have expanded the markets available via their set-up.
LaSalle Street News (LSN), the commodity market information news service, is now available to CQG users via CQG News service. LSN offers market information that streams directly to the CQG platform.
Toby Corballis, CEO, Rapid Addition: "We are delighted to be working with the BVC by providing them with the lowest latency hub solution available on the market today." Rapid Addition, the provider of low-latency trading technology solutions to financial institutions, has announced its engagement with the Bolsa de Valores de Colombia (BVC) to implement GRHub™, Rapid Addition's FIX Protocol gateway and order routing hub, and u-Trader, Rapid Addition's web-based, FIX-enabled dealing system. GRHub™ is the latest addition to Rapid Addition's family of low latency financial information communications products.
Raj Mahajan, president, SunGard's trading business: "We are enthusiastic about working with the Fox River Execution management team to exploit the synergies of our offerings and extend our services." SunGard has acquired Fox River Execution, the broker dealer provider of algorithmic trading technology and execution solutions to institutional firms trading equities and exchange-traded funds (ETFs). Fox River Execution will become part of SunGard's trading business, and will augment SunGard's provision of customizable algorithmic trading solutions.
Toby Corballis, CEO, Rapid Addition: "We are delighted to be working with the BVC by providing them with the lowest latency hub solution available on the market today." Rapid Addition, the provider of low-latency trading technology solutions to financial institutions, has announced its engagement with the Bolsa de Valores de Colombia (BVC) to implement GRHubTM, Rapid Addition's FIX Protocol gateway and order routing hub, and u-Trader, Rapid Addition's web-based, FIX-enabled dealing system. GRHubTM is the latest addition to Rapid Addition's family of low latency financial information communications products.
July 21st, 2010 - Graeme Clark appointed regional vice-president for financial services in EMEA
July 21st, 2010 - Roger Liddell announces 2011 retirement from LCH.Clearnet
July 21st, 2010 - Sean Westley appointed senior vice president of Sales at NorthPoint Trading Partners
CQG, the order routing, charting, and analytics provider for electronically-traded futures markets, and Broco, an international brokerage company, have announced that Broco will make CQG's trading software available to its customers and internal trading desks throughout Russia and Eastern Europe. "Broco's customers and traders will benefit from our world-class performance, speed, and reliability," said Mike Glista, CQG's Director of Order Routing.
July 20th, 2010 - ITG hires equity market veteran Jamie Selway & White Cap Trading partners
July 20th, 2010 - Robert Thompson appointed President of Fidessa's North American buy-side operations
July 20th, 2010 - Luca Rubinelli to head Xenfin Capital's new fixed income trading arm and manage global macro strategy
NYSE Euronext and Warsaw Stock Exchange announced a strategic partnership, NASDAQ OMX introduced Nordic Last Sale for Professional Investors for transparency, and pricing, London Stock Exchange launched a new post trade market data service for the LSE and Borsa Italiana, and a new market data promotion for retail investors. Further afield the Bombay Stock Exchange and Eurex, are to launch futures and options on the SENSEX, on 4 October 2010 and the Tehran Stock Exchange is to trial an online trading system. TNS offered low-latency connectivity via Equinix's IBX data centers in Australia and Singapore, StreamBase partnered with MarketFactory for algorithmic FX trading, Interxion is to provide low-latency access to Bats Europe, Level 3 and NovaSparks deliver market data transport solution between Frankfurt and London, and SunGard's MarketMap can now distribute Asian market data from Tullett Prebon. Advent Software integrated Sungard's Valdi with its Moxy solution, ConvergEx's Eze OMS partnered with PAC-Invest, and NCB Capital selected Fidessa's sell-side trading platform for the Saudi stock market. In other industry news TradingScreen launched a post-trade Transaction Cost Consulting Service., Portware unveiled its next generation FX Trading Platform, OneMarketData partnered with IWI to expand OneTick in Asian markets, and Otkritie announced the launch of a Russian trading platform for international investors.
Advent Software has announced that SunGard's Valdi Liquidity Solutions has become the latest algorithmic trading provider to become certified by Advent to deliver advanced, algorithmic trading tools, including the Valdi dark pool aggregator, integrated with Moxy®, Advent's trade order management solution.
Speakerbus, supplier of trader voice solutions for the equity, capital and wealth management segments of the financial industry, has announced a new endpoint for its trader voice products.
July 9th, 2010 - CQG appoints Patrick J.
This week ABN AMRO Bank and Fortis Bank Nederland announced the completion of their legal merger, NYSE Euronext and MICROFIS partnered to create 'responsible finance market segment', Chi-X Japan launch was approved with trading to begin July 29th, and Equiduct announced a price promotion to run until the end of December. Meanwhile SmartPool announced record growth during Q2, with its best monthly performance to date in Italy and Germany, and Turquoise continued its own recent growth, leading the European dark pool race for the first time in June. Advent and SuperDerivatives agreed to provide pricing and analytics services to Geneva® clients, Finamex announced a new proximity DMA offering, Bloomberg launched its Derivatives Valuation Service for OTC derivatives and to assist market transparency, and Paradice Investment Management went live on ConvergEx's Eze OMS. New tools, gadgets and widgets this week have included Saxo Bank's launch of a new suite of free Forex widgets, the addition of New in-built dashboards to the FRSGlobal product suite, and Deutsche Börse's expansion of online services for investors with a new iPhone app. We'll shortly be publishing the Q3 print issue of Automated Trader, if you haven't already subscribed, and want to be sure of receiving your copy please click here. Current vacancies on the Automated Trader Jobs Page include the following: Equity Quant Analyst Senior C++ Exchange/ECN Connectivity Expert Senior C++/Linux Developer - High Frequency Hedge Fund, Hong Kong Senior C++ Commodities Developer Architect - Global Equities