The Tradetech Daily

Bloomberg Tradebook

Bloomberg Tradebook

Email: www.bloombergtradebook.comTel: Hong Kong +852 2977 6064

Bloomberg’s B-Smart intelligently posts orders in the most active lit/dark venues using dynamic real-time market information and seeks to maximise exposure and market-sweeping ability. B-Dark seeks to minimise impact and maximise size by trading only with dark liquidity pools. The Auction Close/Open automates and optimises global open/close auction participation and allows market orders to be entered in every exchange and will queue orders so they can be entered at any time. Bloomberg’s Smart Close executes large orders using the day’s trading dynamics in both continuous trading and the closing auction to minimise impact. Smart ETF treats ETFs as a unique asset class and intelligently trades seeking optimal price improvement based on user specified urgency.

Venues offered

It connects to
the following venues: Australian Stock Exchange, Hong Kong Stock Exchange,
India’s Bombay Stock Exchange and National Stock Exchange, Indonesia, Chi-X
Japan, JapanNext, Jasdaq, Korea Exchange, KOSDAQ, Bursa Malaysia, New Zealand
Stock Exchange, Singapore Exchange, Taiwan Stock Exchange and the Stock
Exchange of Thailand.

Routing logic

Tradebook’s proprietary smart order routing
aggregates, finds and extracts liquidity and routes orders to

venues based on best price and liquidity considerations. It also probes
for hidden liquidity in dark pools and iceberg reserves

User protection

+/-10% price move protection is provided and the
algorithm will be paused if the stock moves more than 10 % to the last price.
ExCon desk has to review and un-pause to participate.


Bloomberg offers the following customisation tools,
scaling/get me done, soft limits, volume constraint, algo duration; urgency
level and decrement.

Future plans

Bloomberg’s strategy analyser (STAZ) uses quantitative models and actionable statistics to assist traders looking to reduce implicit costs in global electronic equities markets. STAZ will evolve to a real time, algo switching engine based on trader’s benchmarks and urgency.