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
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.