New algo adds certainty to US dollar trades

Fox River, the electronic trading solutions arm of financial technology provider SunGard, has released a US equity ‘dollar certain’ algorithm for trades executed according to US dollar value rather than number of shares.

Traders that manually convert the dollar amount of their trade into a number of shares before entering the deal into their trading system can now automate the process via the new Fox River algorithm, thus reducing the risk if calculation errors. 

The new tool joins a suite of ‘trader logic’ algorithms that aim to replicate the experience and expertise of the human trader rather than focusing on hitting benchmarks.

Fox River also provides trading support services including post-trade analytics and back-testing capabilities.