Investment bank Credit Suisse’s Advanced Execution Services (AES) unit has launched algorithmic trading for Indonesian equities. The company says its new suite of algorithms enable clients to trade Indonesian equities more efficiently and achieve best execution.
The algorithm launch follows the Credit Suisse’s introduction of direct market access in Indonesia in August 2008.
“The technology is tuned specifically for Indonesia’s market structure to maximise liquidity and minimise the impact of clients’ trades,” said Hani Shalabi, head of AES sales for Asia, in a statement. “It’s another step forward in our ongoing drive to deliver best execution to clients wherever they are trading.”
Credit Suisse clients can now use algorithms to trade equities listed in Australia, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan and Thailand.
The bank’s Asian algo suite comprises 12 headline strategies and over 100 custom strategies. It includes traditional algorithms that seek to divide trading volumes up over time, trade at the volume weighted average price of a stock, minimise implementation shortfall and trade a certain percentage of a stock’s daily volume.