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Dual Algo Drama

Published in Automated Trader Magazine Issue 13 Q2 2009

Joe Wald, Managing Director at Knight Capital Group and Co-Founder of EdgeTrade, outlines the use of a next generation algorithm that links Benchmark and Smart Order Execution strategies to sell a large position in General Electric

The Scenario: Despite assertions to the contrary by General Electric's senior management, a large conventional US asset manager has become increasingly concerned that the company will miss its Q1 2008 profit number. The manager has been steadily selling down her holding in GE over the past month into a rally that has seen the stock move from around 31.50 to hit a high above 38.00. However, with first quarter results due out tomorrow, the manager is keen to clear out the still subst

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