The Gateway to Algorithmic and Automated Trading

Automated Trader Magazine Issue 23 Q4 2011

William Essexsignature

We’ve struck gold this month, in more ways than one. First, in our Me and My Machine series (page 22), we have a really very interesting interview with Cristiano Migliorini and his colleagues at the UBAM Gold + Fund. Andy Webb asks the questions, and the discussion ranges from the (to me, surprisingly wide) variety of strategies that can be applied to the challenge of making money from the nice yellow metal, through the fund’s development and application of its “machinery”, to Cristiano Migliorini’s pleasing conclusion that if a fund is investing in gold, by whatever application of technology and innovation, it should end the month by owning actual physical gold. I like that kind of thinking. [You may notice the news item, in our Latest News pages (from page 14) on Scoach Switzerland’s launch of gold as a trading currency. Yes, please.]

You’ll find more positive thinking on page 6, where our First Person this month is Philippe Bonnefoy, co-founder with Riadh Fessi of Eleuthera Capital AG. The investment philosophy there is – if I may cut a long and fascinating interview down to its key point – to make positive returns from fully automated short-term currency trading. Eleuthera Capital AG is a new venture; its two founders are veterans of many years’ experience in our industry; and I strongly recommend allocating some time to finding out how Mr Bonnefoy and Mr Fessi approach the challenge of accentuating the upside and minimising the downside. If you’re in the strategy-building business yourself (and I think that covers just about all of us), turn from page 6 to page 36, where you’ll find Daniel Riek, CTO, Vincorex, talking about open-sourcing, future-proofing, building for the long term.

Interesting piece from Thomas Becker of Zephyr Associates on the K Ratio, new and old, page 62, and you won’t want to miss our Wrecking Crew’s verdict on TickData’s data service and its TickWrite application in this month’s Software Review (page 77). I enjoyed the distinctly stormy Anatomy of an Algo delivered by Murat Atamer, Head of AES Product for Asia Pacific, Credit Suisse Hong Kong on page 94, and if you’ve ever wondered what everybody else is doing while you’re slaving over a hot algorithm, you’ll find our 2011 Readership Survey, mediated by independent analyst Bob Giffords, on page 46. My thanks to everybody who contributed to that one, and I hope you find Bob’s presentation as insightful as I did. All that, and Oslo Børs too. Page 73. Interesting conversation with Kjetil Nysæther, Senior Vice President, Information Technology, Oslo Børs, about streamlining technology.

William Essex

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