Saxo launches retail algorithmic trading tool
10 Jan 2007, Saima Farooqi, Risk magazine
The new tool, TradeCommander, enables retail investors to establish their own trading parameters. These parameters are then monitored and traded on behalf of the investors by TradeCommander. Saxo says the tool also contains back-test and optimisation features that investors can use to evaluate the trading systems on historical price data, before submission for live execution.
Saxo launched TradeCommander to help retail clients learn more about managing their trading style by providing them with a disciplined approach to the markets. The bank is considering running mandatory training seminars for interested clients.
TradeCommander is open to all clients of Saxo Bank, who must start with a minimum account size of $10,000 or equivalent. Launch is due in the first quarter of this year, Saxo says.