Automated Trader Magazine Issue 38 Autumn 2015
Featured in this issue
Jae Hong Kil, CEO and Portfolio Manager
Sentiment Alpha Capital Management
An investment management firm that generates quantitative trading strategies from sentiment analysis techniques combined with largescale media data.
Dennis Dijkstra, Co-CEO
“Safe trading is more important than fast trading.”
Sjoerd Rietberg, Co-CEO
“We have our own radio frequency network in Europe. There are a lot of technological necessities for us to provide liquidity.”
Bruno Pannetier, CIO
Old Park Capital
“The key to the strategy as a main driver of the performance is simply the frequency at which the strategy is activated.”
Andreas Clenow, CIO
ACIES Asset Management
“People think that you can just take a trend following model and apply it to stocks and frankly, you cannot.”
Gernot Heitzinger, CEO
“I am convinced that there will always be trends as long as markets are driven by human market participants.”
- Sentimental smartsThe era of unstructured information flow has made quant shops keenly interested in news sentiment analysis. Automated Trader finds out what the latest developments are and what's getting practitioners excited about the future.
- Sentimental quantSentiment Alpha is an investment management firm that generates quantitative trading strategies from sentiment analysis techniques combined with large-scale media data - including sources such as Twitter, blogs, news and broadcast. CEO Jae Hong Kil tells Automated Trader about the firm's foundations and his hopes for the future.
- Momentum trendsAndreas Clenow is CIO of Zurich-based ACIES Asset Management ($300+ million AuM), and author of 'Stocks on the Move: Beating the Market with Hedge Fund Momentum Strategies'. Why would he give up the super secret sauce in a tell-all? Automated Trader finds out.
- Dutch pride: a trading nation weighs its optionsIt's hardly surprising that technologically advanced trading took off in one of the world's first modern economies. A historic spirit of industrial entrepreneurialism and merchant capitalism, backed by a sophisticated financial sector means that the Netherlands is home to pioneering trading firms that have a long reach into global markets. But it's not all budding tulips. Observers of incoming European legislation warn that smaller players could be left behind as a consequence of regulation.
- Going with the flowFlow Traders is one of the Netherlands' major success stories, with a valuation of some Eur1.5 billion after its IPO earlier this year. Automated Trader talks to co-CEOs Dennis Dijkstra and Sjoerd Rietberg about being a global ETP liquidity provider with a Dutch home base, and life since the IPO.
- Commodities: from pit to screenCommodities trading is undergoing radical change, driven in part by increasingly electronic markets and regulation. Peter Barker reports on how markets and traders are evolving.
- JWG regulatory trading digest - MiFID II technical standards publishedAfter months of waiting ESMA has published the long-awaited MiFID II Technical Standards, leaving implementation teams across the industry with hundreds of pages to get to grips with. The much delayed Technical Standards were largely met with relief from an industry nervous about meeting the 3 January 2017 implementation deadline.
- Dr. Strangecoin or: How I learned to stop worrying and love the blockchainWho is trying to shape the future of bitcoin infrastructure adoption? Augustin Eden reports.
- Best of the blogs - A quant's approach to getting sentimental about security selectionHow can investors harnessing a security selection process integrate qualitative metrics like investor sentiment? By Joe Importico, VP, Analytics Specialist, FactSet.
- Quant(um) questionsThe Netherlands is home to one of the world's leading technology research centres on quantum computing. Amid rumours Renaissance Technologies* is hiring from just such departments, Automated Trader decided to check in and see where the technology is at and what it implies for markets.
- Quant convictionsGernot Heitzinger is CEO at SMN, a CTA based in Vienna, Austria, operating for some 19 years. Heitzinger tells AT about his quant convictions, diversification in the current market environment, and why he's cynical about forecasts.
- Dynamic strategiesIn the early 2000s, Bruno Pannetier had a great idea for structured products. Instead of working with static baskets, he would define systematic rules for dynamic strategies. Pannetier tells Automated Trader how that idea has evolved.
- Setting up shopVictor Lebreton decided to throw off the shackles of a corporate investment banking environment and start up a hedge fund, Quant Hedge. He's also teaching electronic trading to grad students at one of the top engineering schools in Paris. Automated Trader talks to him about the practicalities of operating a small HFT prop shop these days.