Goldman Sachs Launches Algorithmic Access Service
March 15, 2010
Goldman Sachs Electronic Trading has launched a service that offers customers a single point of access to Goldman Sachs trading algorithms, the company said Monday.
Dubbed "1CLICK," the solution is part of a larger initiative designed to improve ease of use and create global consistency across the bank's multi-asset offering of algorithms, explained Goldman Sachs. 1CLICK launches orders into the marketplace after the user selects a preferred trading strategy, ranging from “ultra passive” to “super aggressive.”
“The complexity of our algorithmic offering has evolved significantly since the initial release of our VWAP and percent-of-volume algorithms in 2002,” noted Greg Tusar, managing director and co-head of GSET. “Clients continue to seek increasingly sophisticated strategies and intelligent liquidity-seeking behavior. However, traders are also demanding simpler workflows with intuitive and consistent order entry. 1CLICK is our response to this.”
Goldman Sachs noted that the launch of 1CLICK headlines a global initiative to streamline Goldman Sachs’ electronic offering.
With ICLICK, clients utilizing strategies across Asia, Europe, and the Americas "will benefit from a consistent set of order parameters and interface," according to Goldman Sachs Customers are able to access Goldman Sachs algorithms through all major channels, including third-party order and execution management systems as well as REDIPlus, GSET’s execution management system.
“A broad and flexible algorithmic offering is critical—however we’ve found that many clients struggle to manage multiple parameters and strategies across multiple products, markets and brokers," said Tusar. "The streamlined Goldman Sachs algorithmic suite, combined with 1CLICK and a new, globally consistent naming convention, minimizes the complexity of order placement while still offering customization of the underlying strategies."
In addition to offering global equity algorithmic strategies, customers can utilize Goldman Sachs algorithms for options and futures products.
