Advanced Trading takes you on an exclusive tour of Abel Noser's New York trading floor, where the agency broker known for transaction cost analysis, is customizing algorithms for the buy side, while growing its fixed income trading and transitions business.
August 27, 2012
Algorithmic Trading
Michael Woods, Jr. (right), program trader for institutional trading, manages baskets (or lists) that come in electronically directly from the client via the firm's EMS or from the cash desk and determines which stocks are algorithm-eligible. About 3,000 stocks are algo-eligible, which represents about 99% of the volume that trades, says Woods. If a stock is too thin, then the order is sent back to the cash desk.
