BLOOMBERG TRADEBOOK FIRST TO AUTOMATE GLOBAL PORTFOLIO TRADING
January 11, 2011
– New Portfolio Algorithm helps safeguard buy-side trading by
providing
unprecedented control, transparency and automation
– Designed to reduce trading costs and enable trading of entire
global portfolios
– Maintains dollar neutrality, adjusting FX rates in real time
New York, January 11, 2011 – Bloomberg Tradebook®, a leading
global agency broker, today announced the launch of Bloomberg
Tradebook’s Portfolio Algorithm, the first algorithm to fully
automate global equity portfolio trading. The new Bloomberg
Tradebook Portfolio Algorithm connects to over 70 liquidity
venues in more than 41 countries around the globe.
Bloomberg Tradebook’s Portfolio Algorithm provides institutional
investors, who invest globally using sophisticated basket
trading strategies, more safeguards for their holdings, trading
decisions and strategy. Bloomberg Tradebook’s Portfolio
Algorithm gives buy-side traders complete control over the
execution of their global equity trading, while remaining dollar
neutral.
“The new Bloomberg Tradebook Portfolio Algorithm is a game-
changer and successfully tackles a complex problem that has
eluded the market for a long time — how to fully automate
global equity portfolio trading,” said Raymond M. Tierney III,
Bloomberg Tradebook’s Chief Executive Officer and President.
“Buy-side traders want more control and our Portfolio Algorithm
puts the power back in their hands with unprecedented control
and transparency.”
A flexible platform, Bloomberg Tradebook’s Portfolio Algorithm
is designed to streamline trading of a portfolio while seeking
to lower implicit trading costs and increasing workflow
efficiency. While the algorithm is completely automated,
Bloomberg Tradebook offers clients a global team of execution
consultants, who are able to step in, if necessary, to assist in
modifying the algorithm as it trades across the world.
“As a buy-side trader, I have a need to stay cash neutral on
global orders, and Tradebook’s Portfolio Algorithm addresses
this by working the orders within my set tolerance levels,” said
Mark Hunter, Equity Trader, New Brunswick Investment Management.
Tradebook leverages the breadth and depth of data and analytics
of the Bloomberg Professional® service to incorporate real-time
currency rates in order to maintain dollar neutrality. The
Portfolio Algorithm also enables traders to control more of
their workflow and style by designating urgency levels and
specifying the level of aggression on which the algorithm will
seek liquidity. They can also control if the algorithm seeks a
Volume-Weighted Average Price (VWAP) or arrival price benchmark.
Tradebook’s Portfolio Algorithm will also benefit small and mid-
sized brokers who traditionally lack the resources to trade
baskets globally across time zones for buy-side clients.
About Bloomberg Tradebook
BLOOMBERG TRADEBOOK® is Bloomberg’s agency broker that partners
with both the buy-side and sell-side to provide high-quality
liquidity, market insight, and customized solutions based on
innovative technologies. Founded in 1996, Tradebook offers its
customer base trading solutions for equities, futures, options,
and foreign exchange (FX) to actively manage complex trading
strategies in more than 70 global markets.
MEDIA CONTACTS:
In US: Pam Snook, Bloomberg LP, pamsnook@bloomberg.net, +212-
617-7652, Loretta Mock, Cognito Media,
Bloomberg@cognitomedia.com, +1 646 395 6300
In UK: Rod de St. Croix,BloombergUK@cognitomedia.com, +44 (0)20
7438 1100, In Asia: Anne Karumo,BloombergAsia@cognitomedia.com,
+65 811 264 09
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-0- Jan/11/2011 14:24 GMT