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.

ABN AMRO relocates senior management to Asia Pacific3 Sep 2010, 05:15:00

September 3rd, 2010 - ABN AMRO relocates senior management to Hong Kong

Automated Trader Updates3 Sep 2010, 01:00:00

Bloomberg Tradebook's B-Dark algorithm is to offer real-time venue transparency, ICAP is to launch an MTF for interest rate swaps on Sept 6th , and 4th Story has introduced portfolio features to its trading platform. In data news Kx Systems addressed the cost of data storage by adding intelligent file compression to kdb+, euNetworks launched two new ultra low latency routes between Slough and Central London, and London and Frankfurt, and Thomson Reuters aligned with Bombay Stock Exchange data centre to extend the Elektron network in Asia. Meanwhile from the Exchanges; LCH.Clearnet announced Free equity clearing for volumes of 150k plus, Singapore Mercantile Exchange went live on 31st August & completed its first trading, clearing and settlement cycle on 1st September, and Chicago Board Options Exchange announced the launch of C2, an all-electronic options exchange in late October. Automated Trader have teamed up with OptiRisk to offer a series of training courses addressing the following themes: Asset Allocation and Fund Management; Quantitative Modelling Techniques in Finance; Analysis of Market and News Data; Risk, Regulation and Compliance.

NovaSparks appoints ex BT Global CEO as Director and Strategic Advisor2 Sep 2010, 04:38:00

September 2nd, 2010 - Industry veteran Francois Barrault joins NovaSparks as Director and Strategic Advisor

Automated Trader Updates27 Aug 2010, 01:00:00

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Eurex rolls out Training & Education Initiative in Asia20 Aug 2010, 01:00:00

Michael Peters, member of the Eurex Executive Board: "With our new program, we aim to improve the knowledge and expertise of Asia-based investors about the European markets and products." Derivatives exchange Eurex has announced its plans to cooperate with The Chinese University of Hong Kong (CUHK) to set up the world's first real-time finance trading laboratory on campus as a major part of its new Training & Education Initiative in Asia.

Automated Trader Updates20 Aug 2010, 01:00:00

BATS gained SEC approval to launch its second exchange BYX, launch date to be in 60 days, SMX also confirmed a go live date of 31st Aug, and RTS announced that it is to provide access to the exchange. Chi-X Japan selected KVH low-latency network connections and proximity hosting services for its new equities trading platform and joined Fidessa's FIX network. Paladyne announced Paladyne Portfolio Master 7.0, Connemara released RiskScope, Theoria implemented SunGard's Front Arena, and FTEN was awarded a patent for real-time risk management data cloud. Atrium Network upgraded its New York to Toronto Exchange Ring to 10Gbps and Hudson Fiber Network opened up two, ultra-low latency, metro New York Fast Path fiber routes. In other news this week Instinet introduced US-listed futures and options functionality to its Newport 3 EMS, Lime Brokerage rolled out a high-speed options data feed from the Chicago Board Options Exchange and Societe Generale added liquidity seeking feature "Block Cross" to its QES product. Automated Trader have teamed up with OptiRisk to offer a series of training courses addressing the following themes: Asset Allocation and Fund Management; Quantitative Modelling Techniques in Finance; Analysis of Market and News Data; Risk, Regulation and Compliance.

Otkritie strengthens Research team with two more senior hires19 Aug 2010, 05:54:00

August 19th, 2010 - Otkritie strengthens Research team with two more senior hires

SRL Global appoints Alex Lowe as Managing Director18 Aug 2010, 07:31:00

August 18th, 2010 - SRL Global appoints ex Man Global Strategies CEO Alex Lowe as Managing Director

Trading Technologies releases X_TRADER® 7.818 Aug 2010, 01:00:00

Harris Brumfield, CEO, TT: "X_TRADER 7.8 contains many new features that should appeal to all of our users, including institutional, fund, proprietary, commercial and independent traders." Trading Technologies International, Inc., the provider of order-entry software and solutions for professional derivatives traders, has announced that it has released X_TRADER 7.8. Features of the new X_TRADER 7.8 include: - A redesigned Market Window Order Pane includes enhancements and added functionality to enable traders and brokers to seed and enter orders. - A new Order Defaults window allows users to name, save and apply frequently used order configurations as order templates. - Enhanced risk provisions offer a new Max Long/Short position limit for spread traders, and a new Price Variance setting to reduce potential "fat-finger" order-entry errors. - Improved order entry-seeding rules ensure consistent behavior across all X_TRADER windows. Version 7.8 also enhances TT's Autospreader ® and Autotrader™ automated trading tools. - The new Reload order type splits large Autospreader orders into smaller disclosed quantities. - Queue Holder Autospreader orders may now be submitted via a button in the Autospreader MD Trader ® window.

FXall adds to Management Team17 Aug 2010, 06:34:00

August 17th, 2010 - FXall adds senior hire to head Global Trade Support

Nomura hires Jon Block as US Head Of International Trading13 Aug 2010, 03:29:00

August 13th, 2010 - Nomura appoints Jon Block as Head Of International Trading in the United States

UBS appoints Jakob Stott as Head Wealth Management Europe13 Aug 2010, 03:12:00

August 13th, 2010 - UBS hires ex J.P.

Automated Trader Updates12 Aug 2010, 01:00:00

This week Atrium Network became the first connectivity provider to offer access to the new Chi-X Canada facility, Interactive Data selected Corvil for latency monitoring, DMZ Trading Solutions connected to CQG's API and hosting services, and J.P.

High Frequency Trading World Europe 201012 Aug 2010, 01:00:00

Long an obscure corner of the market, High Frequency Trading has leapt into the limelight in the last 12 months.

ConvergEx grows its NorthPoint Boutique prime services business10 Aug 2010, 03:23:00

August 10th, 2010 - ConvergEx Group makes four new hires to NorthPoint Trading Partners

CQG connects trading platforms to TurkDEX4 Aug 2010, 01:00:00

CQG and the Turkish Derivatives Exchange (TurkDEX), the first private exchange in Turkey, have partnered to provide low-latency trade routing and consolidated market data access for TurkDEX derivatives contracts through CQG's advanced trading platforms, the companies have announced. CQG's hosted trading gateway provides traders with access to TurkDEX ISE-100 Index, ISE-30 Index, TRYEuro, and TRYUSDollar contracts.

Netik appoints John Mason as COO3 Aug 2010, 05:12:00

August 3rd, 2010 - Netik appoints John Mason as Chief Operating Officer

Automated Trader Updates30 Jul 2010, 01:00:00

This week sees the publication of the results of Automated Trader's online global survey of trends in algorithmic and High Frequency trading, Click here to read Bob Giffords' detailed analysis of the results Another survey from Progress this week concluded that over 50% of capital markets firms do not use real time market surveillance and monitoring tools.

Standard Chartered appoints Michael Haigh as Global Head of Commodities Research26 Jul 2010, 05:50:00

July 26th, 2010 - New position to support growing business in commodity derivatives and physical markets

Okachi signs license for Patsystems XConnect26 Jul 2010, 01:00:00

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.