Smaller asset managers may get left behind as automation allows the big players to prosper
Traders fear push for equity-style market could be detrimental to off-the-run securities
Sun platform could help banks auto-hedge and develop algo execution for the instruments
Rubenstein and Rosenwald open up on reasons for the deal – plus US lawsuit and culture questions
…and what investors like AllianceBernstein, Man Numeric and Acadian are doing about it
Talking Heads 2023: Non-bank market-maker remains confident of its edge in small-ticket corporate credit
Model calibration gains efficiency by including biased but adjusted trading data
A causal machine learning algorithm is used to estimate trades’ price impact
Liquidity recycling has made it trickier for LPs to identify information leakage
Products have yet to live up to initial hype, but their long-term potential for investors remains significant
BlackRock and Citadel Securities push back on minimum price increments for OTC equities trades
Canadian bank plans to take deep reinforcement learning tech from equities to fixed income and currencies
Faster, more powerful graphics processing units have the potential to transform algorithmic trading and offer a credible alternative to more expensive devices, explain Nvidia’s technology engineering team
Murky rule books prevent non-bank market-makers from competing for Europe’s growing online customer demand
The USP of peer-to-peer FX matching venues is that they cut out the middleman. So why are they now inviting them in?
Yet proponents insist US government bond market is ‘ready for disruption’
Proprietary algorithms come of age to provide alternatives for the buy side
Instead of relying on large LPs, Australian bank aims to offer six new FX algos of its own by February
Oxford-Man Institute is among those asking: could algorithms gang up and squeeze customers?
German bank’s principal resting order algorithm should support swap clients in 2023
The authors extend their impact cost model beyond the typical factors to address the larger transaction costs brought on by stock market crowding effects in times of market turbulence.
Two methods to approximate complex functions in an explainable way are presented
Inaugural interview series looks at how sell-side traders are adapting to a world of surging inflation and rates
Talking Heads 2022: Currency and rates traders join forces at French bank as it plans to bring FX algos to US Treasury bonds