18 October 2017
Register now

Lava launches 'Timeslice' algorithm for laying off FX

21 September 2006  |  13181 views  |  0 keyboard

Citigroup's trading technology subsidiary Lava Trading is adding an algorithmic tool called Timeslice to its foreign exchange platform which enables traders to execute large orders over a period of time with minimal market notice or impact.

Lava says the new tool allows "quiet" execution of large orders and is part of its LavaFX foreign exchange product suite.

The vendor says Timeslice orders work invisibly by sending pieces of the master order into the market at specified intervals.

Traders can dictate a time horizon and choose from different execution styles, as well as select required market conditions for order placement.

Dealers can select to randomly vary the amount executed and the time between executions to lessen the market's awareness of the order. Orders can also be designed to execute only if the market is trading at a certain spread to avoid periods of decreased liquidity.

Commenting on the Timeslice algorithmic trading tool, David Ogg, CEO, LavaFX, says: "It will enable traders to move large amounts through the market with minimal disruption, or to maximize profit potential on smaller orders by letting them trade out of positions over time where a human may not have the patience to do so. Timeslice provides a true point-and-click operation."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Lava Trading CEO Richard Korhammer quits

Lava Trading CEO Richard Korhammer quits

12 September 2006  |  10747 views  |  0 comments
Banc of America Securities hails Ambush algorithm

Banc of America Securities hails Ambush algorithm

16 August 2006  |  8257 views  |  0 comments
Lava to launch interbank FX trading platform

Lava to launch interbank FX trading platform

25 April 2006  |  14060 views  |  0 comments
JPMorgan rolls out TAO algorithmic tool for portfolio trading

JPMorgan rolls out TAO algorithmic tool for portfolio trading

02 November 2005  |  7313 views  |  0 comments
Citigroup to buy Lava Trading

Citigroup to buy Lava Trading

02 July 2004  |  18084 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.fivedegrees.nlvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15458 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8657 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8233 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7720 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6930 views comments | 9 tweets | 17 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job