The Gateway to Algorithmic and Automated Trading

Automated Trader Magazine Issue 36 Spring 2015

Anna Reitman

You can bet on only one thing in today’s global markets. There’s going to be more electronic trading and it’s going to keep getting more sophisticated. What that means is an emergence of jurisdictions and asset classes ready to pull liquidity with ever shinier new offerings (and risk). 

Our Spring 2015 issue takes a look at this emergence. First with a special report on the emerging markets – the BRICS – and how they are developing (page 12). We try to make sense of this dynamic and often contradictory grouping ready to do battle on their own terms in the face of major risks, both internal and external. 

We put the spotlight on China, examining the new Stock Connect link and what it means for trading as part of the country’s renminbi internationalisation strategy (page 46). And if you’ve ever wondered what running a fully automated fund is like in mainland China, our buy side interview with QuantCore will give you some real insight (page 58). If it’s India you’re interested in, we have a bit of a teaser for more to come (page 52). 

When it comes to protecting returns, emerging markets investment means hedging currency risk and the World Gold Council has some ideas about how you can do that (page 54). WGC’s director of Investment Research provides a summary of the industry association’s extensive research into reducing portfolio losses with gold. 

But emergence isn’t just about emerging markets. It’s also a major theme across asset classes. In our feature, “Fixed Income on E” (page 24), Peter Barker finds an industry ready to apply the lessons of algorithmic trading. If you want the nitty gritty on what it’s like to connect to the platforms out there, founder of Automated Trader, Andy Webb, tests out corporate bond trading platform MTS BondsPro just for you (page 34).  

Our regular buy side Q&A features Houston-based Quantlab (page 40), and some reminiscing with president Cameron Smith and CEO Bruce Eames on how far HFT has come, and how far it has yet to go in an era of increasing competition and regulatory scrutiny. 

HFT regulation makes a lot of noise, but truth be told it is only a small file on regulators’ desks. Regulatory think tank JWG Group provides an update on the Paris MiFID II hearings, and all the other international rule-making you should be keeping an eye on (page 65). 

We have a new regular feature, in which we select the “Best of the Blogs” (page 68). For this issue, we’re choosing a posting from start-up Inovance on building a machine learning strategy to detect patterns.  

Finally, in Peek Ahead, we express our sincere appreciation to central banks for keeping us all on our toes with constant surprises (page 80). 

Anna Reitman

Editor

annar@automatedtrader.net

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