Robert Schuessler
Traders Magazine Online News

A Smarter Monkey

In this contributed piece, TIM noted that some traders do better than others when using data that has been run through certain analysis - that is, have used some form of machine learning to assist them.

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In his first public speech, SEC Chair Jay Clayton deviated from his prepared remarks and offered his own "off the cuff" comments on market issues. Do you like this change of pace?

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January 13, 2009

OnePipe Adds Exchanges

By James Ramage

First, technology vendor Pragma Financial Systems and broker Weeden & Co. collaborated to create an aggregation tool, OnePipe, to help institutional traders source liquidity in the un-displayed markets faster. Now, with OnePipe Plus, the two firms include the displayed markets, as well.

While OnePipe Plus does everything the earlier product does, it also answers traders' calls for a tool to broaden their liquidity possibilities during the intense volatility. Plus will go out into the displayed and non-displayed markets with varying levels of aggression that users can set-more than 40 different destinations altogether.

The first level checks the non-displayed markets, and the displayed markets to a small degree, said David Margulies, director of algorithmic sales at Weeden & Co. The second level ratchets up the frequency of open-market sweeps. The third hits the open market as frequently as necessary to complete an order within a time frame, he added.

Like its dark-only brother, OnePipe Plus relies on historical and real-time information, Margulies said, for the highest probability of getting a fill.

"Given market volatility, we've seen a dramatic shift to more liquidity-seeking strategies, and less across-the-day, VWAP, TWAP-type strategies," Margulies said.

OnePipe Plus helps those who don't have the time to spread an order across a day when the market is rising and falling 200 points at a time, he added.

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