The Tradetech Daily

Bloomberg Tradebook

Bloomberg Tradebook

Contact
David MasulloEmail: dmasull02@bloomberg.netTel: +44 (0)20 7073 3086

Strategies

Bloomberg Tradebook algorithms include
liquidity-seeking strategies: B-Smart, Hide and B-Smart, B-Smart Auto, Hide and
B-Smart Auto, B-Dark, Smart-ETF. Benchmarks strategies: Arrival price, VWAP,
TWAP, Go-Along, portfolio VWAP, Portfolio Arrival Price, Smart Close. Tactical strategies:
Hide and Fire, Hide and Sweep, PAIR, NLEG, peg, Trailing Stop, Target,
Synthetic Good ‘til Done.

 

Key functionality

The Tradebook
algo suite is designed to help traders easily implement trading strategies. For
example, the broker’s portfolio algorithms allow trading of multi-national
baskets on a delta neutral basis. All the trader has to do is select the
securities, specify their benchmark and money constrains and the algorithm
works across five continents automatically in a 24-hour cycle.

Support

Tradebook algorithms can be modified and customised
by the end-user through the front-end. The firm offers a 24-hour execution
consulting service to help traders customise and implement strategies.
Execution consultants can also trade on clients’ behalf.

 

Tradebook uses proprietary
pre-trade analysis on a list or single-stock level and uses Bloomberg’s BTCA
product for detailed post-trade reports.

Access

Bloomberg Tradebook’s algorithms are available on
all major order management systems.

 

Clients can also access algorithms
from most major execution management systems including Bloomberg EMSX. Clients
can also use Tradebook’s front end on the Bloomberg Professional service for
entering and managing orders.

Routing

Tradebook algorithms leverage a proprietary smart
order router that connects to all lit and grey pools as well as 95% of all
global dark pools.

 

The firm monitors venue level
execution quality (toxicity) in real time and its smart order router adjusts
accordingly. Tradebook uses intelligent posting in dark pools, which
facilitates greater liquidity capture.

Future plans

The firm plans to develop cross-asset strategies to
include more combinations of equity plus other asset class trading.