ContactTom KingsleyEmail: firstname.lastname@example.orgTel: 1 212 617 8588
Bloomberg Tradebook's liquidity-seeking strategies comprise B-Dark, B-Smart, B-Smart Auto, VIP, Go-Along, Arrival Price, DWAP, Hide and Sweep, Hide and Fire, Auctons, Limit and Market algorithms.
Venues and connectivity
All Bloomberg Tradebook algorithms source liquidity from multiple venues and dark pools. Every limit and market order will interact with all available liquidity pools. Bloomberg Tradebook monitors latency and toxicity for each venue and stock.
Bloomberg Tradebook algorithms can be accessed from any major third party OMS and EMS, the Bloomberg terminal via BMQ
Liquidity and routing logic
Bloomberg Tradebook will keep the bid/offer intact by only taking less than what is currently displayed and maintaining the current price level. It will also oversize the display amount if it believes there is hidden liquidity in the stock. Bloomberg Tradebook fires out opportunistically when the bid/ask is away from the normal level. Finally it will route out to and post in multiple venues and price levels simultaneously to optimise liquidity capture.
Tradebook provides a unique crossing network called Tradebook Cross which uses a negotiating platform (WUD) as well as auto execution functionality (WUDx). IWUD enable traders to match orders based on watch lists which can contain committed and idle orders. The firm also aggregates liquidity from many brokers crossing networks as well as lit and dark venues.
Tradebook provides transparency in real-time bu showing what venues it is executing as well as an on-demand audit trail for every order. All algorithms use a price and volume prediction model to identify unusual price movement and avoid participating at artificial market levels. At every point in the trading process the firm randomises timing, prices and share amounts and the broker ID to minimise market impact.
Clients can customise liquidity access for the entire client firm or for a specific trader. Using the Execution Architect platform, Bloomberg Tradebook can build custom applications using C# and VBA. The firm offers on-demand TCA and customised end of day reports.
The firm plans to continue to invest in its platform.