Algo Suite Aimed at Retail, Institutional Traders
October 18, 2012
PDQ ATS said it is providing individual or institutional traders with algorithmically-driven types of orders that are housed under the same roof as trading venues’ matching engines. Numerix eleased an upgrade of software for pricing widely traded over-the-counter swaps. Capital Partners Group reached an agreement with Quote MTF to create a Spanish trading venue. NYSE Technologies said it put in place high-speed trading infrastructure for Bolsa Mexicana de Valores.
PDQ ATS: The technology supplier said it is providing individual or institutional traders with algorithmically-driven types of orders that are housed under the same roof as trading venues’ matching engines.
AlgoSuite consists of three specific order types:
• AlgoWork, designed to get the best price across all markets, within the National Best Bid and Offer (NBBO). The program starts by posting the order on the bid or offer and then identifies the best time to cross the market.
• AlgoStop, an intelligent stop loss order, covering positions in a manner that will prevent stop losses from being executed until necessary.
• AlgoMid, which maximizes queue position, by placing orders at the earliest possible time.
The order types can be used by any trader at a computer terminal, who can launch the algorithm when wanted.
This sort of functionality “has been used primarily by high-speed, electronic traders through their proprietary trading systems,’’ Jason Wallach, Executive Vice President of PDQ ATS. “We are delivering automation to the manual trader, adding another efficiency to the marketplace.”
PDQ Alternative Trading System tries to aggregate an "electronic algorithmic crowd" of automated market makers, to respond to orders.
NUMERIX: The provider of analytics for derivatives valuation and risk management released an upgrade of software for pricing widely traded over-the-counter swaps. LiquidAsset version 2.1 introduces support for municipal derivatives and securities, including basic Muni Swaps, Muni Basis Swaps, Muni Swaptions, Muni Swap Curves and Bond Curves, Muni Variable Rate Demand Obligations (VRDO), and fixed rate Muni Bonds.
“The ability to calculate mark-to-market valuations quickly, as well as perform scenario analysis and stress testing on-demand, enables clients to understand their risk exposure at any given moment,” said Udi Sela, Vice President of the Client Solutions Group at Numerix. “While the US financial markets are relatively calm at the moment, many clients appreciate that the future may not be as tranquil.’’
LiquidAsset is available through Microsoft Excel, or can be integrated into proprietary or third-party systems with the Numerix LiquidAsset software developers’ kit.
QUOTE MTF: Capital Partners Group reached an agreement with European stock exchange operator Quote MTF to enter the Spanish market.