Algo Swoops In on Low Volume Securities
Traders Magazine, April 2012
UBS announced a new algorithm designed to help the buyside trade less-liquid securities, such as U.S. small-cap stocks and Canadian equities. The algo, dubbed Swoop, employs a liquidity-seeking order type that has discretion to trade in both lit and dark venues when appropriate opportunities present themselves, such as a desired trade price and listed size becoming available.
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