Trade execution has developed significantly over recent years, but there is more to come as firms apply additional intelligence to execution management with a view to gaining advantage in the market. Some approaches to improving execution management rely on new technologies, others on existing concepts, but all will be the subject of debate at next week’s A-Team Group Intelligent Trading Summit in New York.
Andrew Delaney, chief content officer at A-Team Group, will moderate a panel session at the summit entitled Applying Intelligence to Execution Management, Liquidity Seeking and Smart Order Routing – High Performance Technologies for Fast Analytics. He will be joined by panel members Andrew Keane, investor services, futures, clearing and collateral, global head, listed derivatives algo trading at Citi; Vladimir Danishevsky, senior vice president, group manager global head of credit flow IT at Citi Bank; Sean Gibson, broker at Lek Securities; and Ashok H Mittal, president at The Beast Apps.
Discussion will cover the need for speed in execution management, colocation of trading algos at exchanges, more sophisticated pre-trade analytics and the emergence of next generation trading systems. Looking forward, these systems could, perhaps, be based on mixed reality that uses a virtual reality headset, such as Microsoft HoLoLens, to blend 3D holographic content into the physical world and allow users to interact with both digital and real content.
Less exciting but ever present, regulation will be in the frame, with panel members considering the impact of Regulation Automated Trading (Reg AT) on US trading and the implications of Europe’s Markets in Financial Instruments Directive II (MiFID II) for US firms trading in Europe.
From a broker perspective, Gibson will discuss how Lek Securities, an independent agency only self-clearing broker dealer and software company specialising in electronic trading tools for the buy side, can help firms improve execution quality by ensuring anonymity, steering clear of information leakage and avoiding leaving a footprint in the market. As Gibson concludes: “Intelligent execution that dynamically adjusts the duration, rate and timing of orders across multiple venues using a mix of hidden and displayed quantities is not always fast, but it is unlikely to hit the market.”
To find out more about:
- New approaches to execution management
- Regulations impacting automated trading
- Technologies for fast pre-trade analytics
- Next generation trading systems