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May 3, 2010

GSET Offers "Point and Shoot" Trading

By John D'antona Jr.

Goldman Sachs Electronic Trading launched its 1CLICK algorithmic access program last month, an application in which traders simply click on a trade execution strategy to complete a trade.

The rationale behind 1CLICK is twofold. First, it standardizes and simplifies algorithm access across all order and execution management systems on a trader's desktop. Goldman Sachs algos are available on many OMS and EMS systems, including its own REDIPlus system.

Besides standardizing access to algos, 1CLICK also simplifies the process by allowing traders to select a trading style rather than a specific GSET algorithm-the system then picks the appropriate algo or algos. Each 1CLICK style corresponds to a particular algorithmic trading behavior. Selections range from "ultra passive" to "super aggressive."

"We haven't at all minimized the sophistication of the underlying algorithmic trading strategy; [we have] simplified the access point to get to it," said Adam Mazur, global head of connectivity at GSET. "Now traders can simply point-and-shoot with a single mouse click and execute a trade."

On average, between 20 and 30 GSET clients use the 1CLICK option, he said.

 

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