Automation is gaining traction in fixed-income markets, but use cases are limited and progress is slow. Market participants must overcome some uniquely human
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Sixteen months of the pandemic is changing all that.
The work-from-home era is fueling a surge in electronic bond trading that gives the likes of Horowitz conviction a long-augured quant revolution is finally ready to sweep the debt world.
Long credit positions held by quants have doubled since 2018 according to Man Group data, outpacing the 20 per cent growth for other asset managers as systematic players seize on the rapid market modernization like they did in stocks years ago.
Bloomberg
“Credit is going through a similar evolution,” said Horowitz, who led the pioneering systematic credit team at BlackRock Inc. before starting his own $290 million fund. “As we become more electronified we should expect the same sorts of forces to come into play.”