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Traders Magazine By Jeff Bacidore, Founder and President, The Bacidore Group LLC As with Gamestop, I hesitated to write a payment for order flow post given that so much has been written about this already. But since it is a topic that comes up often, I thought I would share my take. To me, there are two key issues. First, when a broker receives a payment, where does that payment go? And second, with so much volume being diverted off the exchanges, is market quality (e.g., the NBBO) negatively impacted by payment for order flow arrangements. The former is about whether the benefits of payment for order flow ultimately accrue to retail traders or to their intermediaries. The latter question is about how all end investors – retail, institutional, etc. – are impacted by payment for order flow, or more generally, by the diversion of retail orders off-exchange. ....
Traders Magazine Lime customers will benefit from customized equity execution algo products NEW YORK (May 6, 2021) Score Priority Corp. (“Score Priority”), a financial services organization for the retail and institutional trading community, today announced the furthering of its existing partnership with BestEx Research, a provider of execution algorithms. Lime’s customers including systematic traders, proprietary trading groups, asset managers, and other financial institutions will have access to BestEx Research’s growing suite of equity execution algos, customized to fit their unique needs. “We go much further than anyone else in minimizing execution slippage”, said Hitesh Mittal, Founder and CEO of BestEx Research. “Our order placement logic models the volatility, liquidity, spread and depth of each stock to maximize spread capture and minimize adverse selection and market impact. Unlike most brokers who offer heuristic-based algorithms, we b ....
The Trade Machine learning futures algo trading surges at JP Morgan Peter Ward, global head of futures and options electronic execution at JP Morgan, tells Hayley McDowell that buy-side adoption of its reinforcement learning FICC futures algorithms has surged in recent years, accelerated by the market volatility in 2020. Growth in fixed income futures algorithmic trading at JP Morgan has accelerated rapidly in 2020 as buy-side traders globally turned to the investment bank’s machine learning-equipped algos to grapple with intense market volatility. Speaking to The TRADE, Peter Ward, global head of futures and options electronic execution at JP Morgan, explains that while the volatility contributed to recent growth, adoption of futures algo trading has picked up pace with clients significantly in the last few years. ....
Traders Magazine BNP Paribas Asset Management appointed Sandro Pierri as Deputy CEO, with effect from 1 January 2021. This is in addition to his role as Head of BNPP AM’s Global Client Group, which he has held since 2017. Pierri is based in London and reports to Frédéric Janbon, CEO of BNPP AM. Pierri has more than 30 years’ experience in the asset management industry. He began his career in 1989 as a portfolio manager with San Paolo Fondi, moving to BNL Gestioni in 1992, before joining ING Investment Management in Italy in 1994, where he held several commercial roles. Between 2002 and 2003 he was Chief Executive of ING Group’s Italian retail business. Following the acquisition by UniCredit/Pioneer of ING’s Italian business, he joined Pioneer Investments, UniCredit’s asset management division, in 2004. He spent 10 years in various commercial and managerial positions, including being appointed CEO in 2012. ....
/PRNewswire/ BestEx Research Group, LLC, a provider of high-performance algorithmic execution and measurement solutions for equities, futures, and foreign. ....