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Baird To Launch Program Desk
Robert W. Baird & Co. has expanded into program trading and is in the process of hiring a team of traders.
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.
Articles
Cover Story: Spreading Their Wings
Over the past five years or so, mid-tier trading desks have been reorienting their roles in the market.
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.
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