Deutsche Bank's Autobahn electronic trading business has made its suite of execution algorithms – including its Stealth liquidity seeking tool – available for trading Brazilian equities.
Stealth, which uses high-frequency alpha models to source liquidity in both lit and dark venues, is already available in various markets across the Americas, Europe and Asia. Deutsche Bank's algos are integrated with the firm's ultra-fast smart order router, which routes orders to all available dark and displayed venues.
Jose Marques, global head of equity electronic trading, said Deutsche Bank would explore the possibility of launching Autobahn in other Latin American countries.
Morgan Stanley's NightOwl algo has been available in Brazil since March, while Goldman Sachs has offered DMA and algorithmic trading in Brazil since May last year. Credit Suisse launched its algos in Brazil in 2009, while Barclays Capital, UBS and Bank of America Merrill Lynch have all introduced electronic trading services for Brazil since 2009.
Meanwhile, Brazilian exchange group BM&F Bovespa has selected US technology company StreamBase to provide a complex event processing (CEP) platform for the deployment of real-time data processing applications. StreamBase's event processing platform combines a rapid application development environment, an ultra-low latency high-throughput server and connectivity to real-time and historical data.
The exchange will use StreamBase CEP to develop applications that provide clients with low-latency automated trading capabilities in equities and derivatives. Existing StreamBase customers include CME Group, technology providers SunGard and ConvergEx Group, investment bank RBC Capital Markets and BlueCrest Capital Management.
“The development of capital markets in Latin America is experiencing the fastest growing phase in decades,” said Marcio Castro, chief technology officer at BM&F Bovespa. “StreamBase's high-performance multi-threaded event server and visual development studio enable us to rapidly roll out sophisticated models that react to changing market conditions.”