Bloomberg Tradebook
Bloomberg Tradebook’s algorithm development is driven by clients and has focused on improving the process by which different algos are selected. |
Technology
The firm has over 50 proprietary algorithms, so a
major challenge for clients is knowing which algos to use at what time.
Bloomberg Tradebook has created STAZ
to help clients understand how stocks will behave and which algorithm and
algorithm setting will yield the best results. The firm has found that clients
in Asia are big adopters of this functionality because of the auction and daily
volume prediction numbers.
Due to the large amount of data available, the challenge
for providers is processing this information fast enough to deliver relevant
real-time insight to the trader. Bloomberg Tradebook has invested heavily in
technology to process this data and the front end to deliver insights to
clients.
Customisation
The firm’s algos take consideration of Asian events
such as special quote days in Japan. Around these days volume is much higher
and Bloomberg Tradebook algorithm’s volume prediction takes that into account.
Auction participation is very important to many clients.
Development
Bloomberg Tradebook’s algo team is now heavily
populated with quants, who are involved in the development of the algos and in
the constant benchmarking and improving of algorithm performance. Bloomberg
Tradebook’s execution consultants are also heavily involved with algorithm
development because they have the most contact with clients on a day-to-day
basis.
The firm moved its Asia
algo expert, Tom Kingsley, to Singapore in order to manage Bloomberg
Tradebook’s execution consultants and this team is critical in driving the
development of algos in Asia.