Goldman Sachs Electronic Trading (GSET) has launched 1CLICK algorithmic access, a service which aims to make its execution algorithms easier for clients to use.
1CLICK offers a single point of access to Goldman’s strategies, which allows clients to send orders to the market solely by specifying a preferred level of trading urgency, ranging from ‘ultra-passive’ to ‘super-aggressive’, rather than selecting a specific algorithm and setting all the associated parameters.
Users can select 1CLICK from a drop-down menu in their order or execution management system as they would for an algorithm.
“The complexity of our algorithmic offering has evolved significantly since the initial release of our VWAP and percent-of-volume algorithms in 2002,” said Greg Tusar, managing director and co-head of GSET, in a statement. “Clients continue to seek increasingly sophisticated strategies and intelligent liquidity-seeking behaviour. However, traders are also demanding simpler workflows with intuitive and consistent order entry. 1CLICK is our response to this.”
The launch of 1CLICK is part of a global initiative to streamline Goldman Sachs’ electronic trading offering. Clients using algorithmic strategies across Asia, Europe and the Americas are now provided with a consistent interface and set of order parameters. This eliminates the possibility of an algorithm appearing differently across order or execution management systems. Goldman Sachs has also standardised the naming convention for its algorithmic strategies and their parameters. For example, rather than naming its implementation shortfall algorithm OptimIS in the US and 4Cast in Asia, it is now known as IS in all three regions and across all trading system providers.
“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, minimises the complexity of order placement while still offering customisation of the underlying strategies.”
Goldman Sachs offers algorithms for options and futures trading as well as its global equities strategies. Clients can access Goldman’s suite of algorithms through third-party order and execution management systems and REDIPlus, GSET’s own EMS.