The Gateway to Algorithmic and Automated Trading

Automated Trader Magazine Issue 24 Q1 2012

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If there is a theme to this month’s issue, it is the central importance of a good idea. We have a fascinating discussion with Colin Berthoud and Jason Larsen of TIM Group, page 52, about the effective development of trade ideas – and the technology to back them up – and on page 76, you’ll find Evan Hochstein of GHF Group describing the technology – and ideas – strategy that’s required when a large and globally diversified group of manual traders decides to go electronic. One of Mr Hochstein’s points – discussing HFT – is that there is a very significant difference between “trading time” and trading a good idea.

Thought-provoking notion? Yes. Indicative of an organisation worth getting to know? Exactly. You will understand our decision also to make GHF Group the subject of our Me and My Machine interview this month. On page 34, Andy Webb talks to Ron Hertshten, who is responsible for algo trading at GHF Group, about – actually, about an opportunity that might interest you. It’s a wide-ranging discussion, and a large part of it is devoted to joint ventures. If you’ve got an idea, and you think you might be interested in talking to a potential development partner with both capital and expertise, over to you. Page 34. I think the message is: pick up the phone.

Still here? Take a look – and it will be a long look – at this month’s frankly absorbing First Person conversation with Russell Newton of Global Advisors on page 6. Mr Newton started his trading life as a teenager, with his Acorn Atom (12kb of RAM), and when he grew up, went into the oil business as a trader for Shell. From there ... discretionary trading ... model development ... running Global Advisors with Danny Masters and (not the least part of it, in my opinion) chairing frequent meetings of quants and traders to debate new ideas and their development. Did I say “take a look”? Ha! Clear the diary.

Strikes me suddenly – how much of this month’s issue was dictated to us by the buy-side. There was also significant – if largely anonymous – buy-side participation in this month’s Software Review, page 61. No single piece of kit goes under the hammer (so to speak); it’s more of a “connectivity review” of what happens if, let’s say, you get an idea and you try plugging together the software you need to trade it.

Minor housekeeping point. Just this once, I’ve left in a few of the notes made on pages by our editorial people. They’re usually scrubbed off at the last moment, but this time – I’m not sure that it’s value they add, but I think perhaps they do add something.

William Essex

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