Pipeline Trading Systems, a non-displayed equities liquidity pool, has introduced enhancements to its Algorithmic Switching Engine in the US to give traders more control over how they use the system.
The upgrade includes greater flexibility on the aggression levels that traders can use to complete orders. Pipeline’s Algorithmic Switching Engine can shift orders between any of 120 premium algorithm strategies based on an analysis of client execution preferences to achieve best execution.
“When executing a giant trade, capturing liquidity opportunities often takes precedence over short-term price improvement,” said Henri Waelbroeck, director of research, Pipeline. “By combining predictive switching with access to high-speed trading across all significant dark pools and displayed markets, the buy-side trader can maximise liquidity capture at specific points on the chart.”
According to Pipeline, research has demonstrated that its predictive switching mechanism improves implementation shortfall results by 30% over the use of a single algorithm throughout the execution of a large order.