Jefferies announced today the launch of a series of trading algorithms for US, Canadian and European equity markets.
The new algorithms offer a number of distinctive features built for trading in the current market environment where prices are volatile and liquidity is fragmented and less visible. This rollout provides a standard product suite across all three geographies that contains region-specific market structure expertise, provides access to multiple pools of liquidity, and takes the functionality and ease of use of the algorithms to a higher level.
This enhanced functionality is demonstrated most prevalently in three new innovative algorithms: MultiScale, Trader and Panel, all of which allow a trader to take more control over executions and be more responsive to the changing market dynamics. These algorithms are built to address two of the features most coveted by algorithmic traders: ease of use in terms of switching seamlessly between working algorithms, and the ability to have more control over the algorithm's execution logic. This functionality will appeal to active traders looking to supplement a given algorithm's quantitative decision making with the trader's ability to add value opportunistically and on a real-time basis.
The launch represents Jefferies' most significant release of new trading algorithms to the market since Jatin Suryawanshi joined the firm in June 2009 as Managing Director and Head of Global Quantitative Strategies, at which time Jefferies announced a major expansion of its Electronic Trading Services Group. Mr. Suryawanshi joined Jefferies from UBS, where he was Head of Algorithmic Trading, Americas. Previously, he was with Goldman Sachs, where he spent six years and was the Head US Strategist for the Goldman Sachs Algorithmic Trading team (GSAT). In addition to Mr. Suryawanshi, five other experienced professionals joined Jefferies to support the development of the firm's algorithmic trading offering.
"We are committed to developing cutting-edge, innovative algorithmic trading strategies to help our clients improve executove execution quality, and we believe this rollout will transform the way traders interact with their algorithms. Jatin's expertise in global market structure, as well as his practical experience in trading, has allowed our development team to be truly innovative and differentiated in a space that is generally considered commoditized," commented Daniel Charney, Head of Global Electronic Trading Services at Jefferies. "This rollout is a significant step in Jefferies' quest to be the leading provider of global electronic trading solutions for institutional investors."
Mr. Suryawanshi added, "These trading strategies were built with today's market structure in mind and with a goal to deliver the greatest value to our institutional clients and internal trading desks. This new suite of algorithms offers a more scientific approach to market fragmentation, alternate liquidity sources and other factors impacting today's market structure."