The Gateway to Algorithmic and Automated Trading

Automated Trader Magazine Issue 07 October 2007

At a time when TABB Group is reporting greater use of algorithms in the foreign exchange market (News, page 4), it is timely that our cover story features an FX-focused alternative asset manager, Plimsoll Capital. Thomas Parry, Director of Algorithmic Trading, provides a detailed insight into how the firm built, tested and rolled out the automated models that support Plimsoll’s Armada strategy (page 76).

Our other case studies profile two firms that started life as Chicagobased proprietary trading operations, but subsequently pursued very different paths. TransMarket Group is now a global business that has faced up to the challenges and opportunities of establishing an automated trading presence across Asia (page 50). In contrast, Last Atlantis Capital Management stayed in the US and built a model development platform that it has opened to partner funds to offer a wider range of investment strategies to clients (page 22).

Readers would expect Automated Trader to cover issues of speed in trading fairly extensively, but in Technology Forum our experts consider ways in which technology is accelerating development cycles and deployment lead times (page 60). And in our Leader column, John Goeller, Chair, FPL, Algorithmic Trading Working Group, explains how a new FIX initiative could eliminate the inefficient communications between brokers and vendors that currently delays delivery of algorithms to clients (page 14).

This quarter also marks the introduction of an important piece of investment services regulation in Europe, the Markets in Financial Instruments Directive. Our ‘The Smart Money’ feature (page 34) looks at how smart-order routing technology will help algorithmic traders navigate the new liquidity pools that are already beginning to form. And this issue’s Exchange Views features an interview with Peter Randall of Chi-X, the first alternative automated trading system to challenge the incumbent European exchanges (page 68).

On the technical side, Alphability responds to reader requests for illustrative price data on leading US stocks (page 56), and Hood River Research’s David Aronson suggests a method for boosting model performance (page 18). In this issue’s Technology Workshop, Mike Stoltz of GemStone explains how grid computing can be used to support a global synthetic pairs operation (page 30).

Chris Hall - Editor Issue 07

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