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
If the client chooses an implementation shortfall strategy, for example, Woods uses the in-house TCA system (far right monitor) to examine the characteristics of the portfolio in order to determine whether the order can be put through the algo. Using Bloomberg custom LaunchPad for news and charts (second screen from right), Woods examines intraday volume of stocks in different time buckets to see the path of the stock, for instance, checking the amount of volume that traded at 10 minute intervals against expected volume.
