
Automated Trader Magazine Articles & Insight
- feature
Sex, death and the quest for algorithmic glorySUBSCRIBERS ONLY - You don't need to look far to find critics of artificial intelligence methods in financial markets. But that hasn't stopped technologists and academics from trying to push the boundaries of what a computer can do when trying to analyse complex situations and make decisions. Automated Trader Editor Adam Cox talks to some of the researchers and executives who see a future for AI in the markets.
- artificial intelligence
Brain-PoweredSUBSCRIBERS ONLY - Alan Turing once famously posed the question of whether machines could think. Applied to today's ultra-competitive markets, the question becomes, can machines think well enough to make money? Anna Reitman reports on what some of the players using artificial intelligence-based systems have to say.
- artificial intelligence
A few minutes with… Spencer Greenberg of Rebellion ResearchSUBSCRIBERS ONLY - Automated Trader catches up with Spencer Greenberg of Rebellion Research to hear about their work in artificial intelligence.
- artificial intelligence
A few minutes with… Marco Fasoli of Titian Global InvestmentsSUBSCRIBERS ONLY - Automated Trader catches up with Marco Fasoli of Titian Global Investments to hear what they're doing in artificial intelligence.
- exchange views
Where credit's dueSUBSCRIBERS ONLY - Back in the 'good old days', life seemed so simple: dealers warehoused vast amounts of corporate bonds, and investors picked up the telephone when they wanted to buy or sell. But capital requirements and regulation have led to a dramatic fall in banks' balance sheets and the buy-side is being asked to play a bigger role to boost liquidity. As electronification takes hold, can the elusive all-to-all model take off or is something else needed? Adam Cox reports.
- regulation
The rise of the Texan sharpshooters?SUBSCRIBERS ONLY - There is a story about a Texan who fires a bunch of shots at the side of a barn. Once he's done shooting, he walks over to the barn, paints a target centred on the biggest cluster of shots, and calls himself a sharpshooter. So what, you may ask, does this have to do with swaps regulation?
- regulation
Regulators grappling with market data: a case studySUBSCRIBERS ONLY - Regulators and trading firms have at least one thing in common: they both find grappling with the torrent of data generated in today's markets a tall order. The CFTC is just beginning to wrestle with the flow of swaps data, while the Securities and Exchange Commission has a head start on the equities side. It has deployed MIDAS, the Market Information Data Analytics System, developed by Tradeworx. Automated Trader met Gregg Berman, senior advisor to the Director at the SEC's Division of Trading & Markets, to find out how the regulator hopes to develop the MIDAS touch.
- first person
At home in the City of Big Shoulders: XR Trading's Matt HaraburdaSUBSCRIBERS ONLY - From the floor of the world's oldest futures and options exchange to a high-rise, high-speed trading firm, Matt Haraburda has watched electronic trading come of age. Automated Trader caught up with the head of Chicago-based XR Trading and got to ask him about the challenges of taking on new asset classes, the possibility of volumes returning and what he thinks are the most interesting markets to trade.
- techs message
Cloud formations - MarketPrizm's tech chief scans the horizons for different ways of doing businessSUBSCRIBERS ONLY - Jacob Lindeman became chief technology officer for data and connectivity group MarketPrizm as part of its acquisition by Colt in 2011. He talks about a down-to-earth, business-like mind set for solving problems. But as Automated Trader's Adam Cox learns, his head is also in the clouds.
- exchange views
Going with the flowSUBSCRIBERS ONLY - Liquidnet does not fit the typical dark pool profile. For one thing, the venue is only open to institutional buy side firms. For another, the users collectively control more than $13 trillion in assets. Automated Trader caught up with Chief Operating Officer John Kelly to hear what the venue and its members have been up to, and where it's going.
- algotraveller
The hammer, the sickle and the algo: Russia's unorthodox journey to a thriving marketSUBSCRIBERS ONLY - Russian peasants performing calculations a couple of hundred years ago may have paved the way for the current boom in algorithmic trading in Russia.
- algotravellerSix big questions for a Russian investment fund
SUBSCRIBERS ONLY - As part of its focus on Russia, Automated Trader spoke to Konstantin Khlebalin, head of the trading department at proprietary trading group Infina, about what kind of algorithmic trading his firm does.
- my machine
An AXA to grindSUBSCRIBERS ONLY - You might think Christophe Roupie already has enough on his plate. He runs the trading operation for one of the biggest asset managers in the world, with a 55-strong team in London, Paris and Connecticut and he has plans for a presence in Hong Kong. But he is also keen to spend more time in Brussels. As he tells Automated Trader Editor Adam Cox, the buy side can do a lot more to work with regulators and ensure more sensible rules are put in place.
- featureTo catch a thief: the dark and dangerous world of network security
SUBSCRIBERS ONLY - How do you deal with the rogue employee who decides what's yours is his? Or fend off hackers trying to gain access to your computers? James FitzGerald probes the murky world of network security.
- featureClass acts: the tricky business of trading new asset markets
SUBSCRIBERS ONLY - Is it any surprise that firms have ventured off in search of new pastures, trying out different asset classes, given the persistent lull in trading activity in the world's equity markets? Adam Cox reports on what they need to consider when branching out.
- featureGaining a foothold in FX
SUBSCRIBERS ONLY - Adam Cox reports on the continuing appeal of the massive foreign exchange market for funds, brokers and vendors alike.
- anatomy of an algoMerger Arb Flip
SUBSCRIBERS ONLY - One certainty of markets is uncertainty, so even established investment strategies don't necessarily play as expected. Gary Stone, Chief Strategy Officer, and Yurij Baranksy, R&D Head of Cross-Asset Arbitrage Trading and Options Trading at Bloomberg Tradebook illustrate an example from the world of merger arb, where a manager's new twist on a trade creates a major pairs challenge for his trading desk.
- dequantificationA New Look at Momentum
SUBSCRIBERS ONLY - Time series momentum strategies are about as old and ubiquitous as the CTA community that uses them, yet there has been surprisingly little recent academic work done in this space. Notable exceptions to this are two papers produced in 2012 and 2013 by Dr. Nick Baltas and Prof. Robert Kosowski of Imperial College London. Automated Trader talks to the authors about their work and some of the conclusions, which run counter to established thinking.
- software reviewCointegration: Assume Nothing, Check Everything
SUBSCRIBERS ONLY - This issue, in a departure from our usual review format, we take a look at something that the Wrecking Crew frequently encounters when reviewing stat arb software - cointegration testing. Used appropriately, cointegration tests can add value, but misapply them and the only reversion you'll see is your trading equity in the direction of zero. Crew members Aly Kassam and Michael Weidman of Quantitative Support Services explain how really understanding what you are doing and appreciating the limitations of cointegration tests is critical to their successful deployment.
- peek aheadDodd Frankly
SUBSCRIBERS ONLY - Language matters. When people start talking about putting customers first or fighting for level playing fields, should you be worried? Everyone, it seems, is talking their books.






























