Program Trading Channel

Abel/Noser Sees Boost in Program Trading Ahead

Abel/Noser expects a ramp-up throughout the rest of the year in program trading, and as a result, the firm has expanded its program desk with a key hire to develop new products.

Nomura Hires in Program Trading and Derivatives

Nomura Securities has recruited several people from Barclays Capital and Bank of America as it begins to build out its equities operation.

FlexTrade Targets Sellside with New OMS

FlexTrade Systems is angling for a foothold among broker-dealers overwhelmed by the IT demands of increasing transaction volumes and low-latency algorithmic trading--but this time, not for FlexTrader, its multi-asset-class execution management system. The company is now drumming up business for FlexOMS, its new sellside order management system.

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Program Trading Tools Need Upgrade

The electronic trading tools for program trading that most brokers and technology vendors offer their clients have not kept up with their single-stock offerings.

Program Trades Head Overseas

Two years ago, it was practically unheard of to use algorithms in Latin American markets for a program trade. Today, U.S. traders can employ them to execute baskets in Brazil or Mexico.

Buyside Ups the Ante in Program Trading

Program trading is booming, but the share of flow reaching the sellside is in decline. With business up so strong overall, though, brokers don't seem to mind. Armed with increasingly sophisticated technology, the buyside is doing more trades in-house, rather than shipping them out to brokers. The steady change over the past year or so has begun to alter the relationship between the buyside and their brokers. The trend has also changed how execution management system providers design the buyside's trading tools.

Liquidnet Beckons Program Traders

Ten months after acquiring agency brokerage Miletus Trading, Liquidnet is entering the program-trading business with a premium-priced offering. The carrot it's holding out to buyside portfolio traders is efficient automated interaction with Liquidnet's pool of institutional orders. Buyside portfolio traders can now access Liquidnet's buyside-only crossing network through the firm's LQTS desk. LQTS, short for Liquidnet Quantitative Trading Services, is the renamed suite of Miletus's algorithmic trading products. Versions of LQTS algos now provide integrated access to the Liquidnet pool and Liquidnet H2O's streaming flow from broker-dealers, in addition to executions in the public markets. These algos are called "Supernaturals."

BNP Paribas's Contrarian Move

BNP Paribas is beefing up its U.S. agency cash-equities business. The existing division-known as Global Execution Services, or GES-is being revamped in the U.S. with a broader mandate and product offering.

Risk Bids Making a Push

Don't call it a comeback, but risk bids on program trades are on the rise. With competitive pricing, manageable volatility and ever-improving technology, industry watchers expect to see growth in principal bids for program trading.

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Articles from this Site

• Abel/Noser Sees Boost in Program Trading Ahead
• Nomura Hires in Program Trading and Derivatives
• FlexTrade Targets Sellside with New OMS
• Global Interest Gives Portfolio Trading a Shot in the Arm
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