The Gateway to Algorithmic and Automated Trading

Automated Trader Magazine Issue 25 Q2 2012

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Something that frequently crops up in conversations with readers (especially those on the buyside) is how best to manage change and the unexpected. (Which is hardly surprising given the nature of the business we’re in.) Sometimes the challenge is small-scale, such as how best to tweak one parameter in a trading model, while at other times it involves a much larger transformation.

For a great example of how to manage this latter type of change successfully, turn to page 26. There you’ll find an account of how Richard Franklin and Chris Mellen, respectively CEO and Head of Research at Boronia Capital, managed the automation of the firm’s existing core long volatility strategy across multiple markets and timeframes. And how they also introduced and automated a portfolio of non-core models in order to further improve risk adjusted returns.

Another organisation that seems to come with change management wired in is Bloomberg, as emerged in my conversation with the company’s Chief Technology Officer, Shawn Edwards on page 46. Among many other things, Shawn talks in detail about getting the best out of people and technology and identifying the value in IT trends.

For a tale of managing the unexpected (as in black swans and chaotic butterflies) flick to page 18, where Anita Hawser takes a look at how CEP technology can now deliver value across multiple aspects of the trading process. If, on the other hand, you’re looking for a classic example of how to turn a change challenge into an opportunity, go to page 58. There you can read about how the switch

to centralised clearing of OTC instruments caused Christian Martin and his colleagues Lennie Nuara and Daniel Droste to found TeraExchange.

If you’re looking for an antidote to all this change talk, take a look at page 67 where you’ll find the Wrecking Crew doing what they’ve always done – trying to break something. In this case it’s RTS’s RTD Tango QUANT application, and much to their disappointment they didn’t succeed...

Finally, we’ve been doing some change management of our own at Automated Trader this issue. Firstly, we welcome newcomer James Fitzgerald to the team, who has been getting to grips with FPGAs on page 40. There’s also been a change at the helm with the arrival of a new editor, in the form of industry veteran Adam Cox. He didn’t quite get up the gang plank in time to edit this issue, but we’re all looking forward to Q3. We’d also like to thank William Essex for his efforts as editor over the past four years and wish him all the best for the future.

Andy Webb
Founder and Chairman andyw@automatedtrader.net 

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