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Knight Launches Algo Suite for European Markets

Knight Capital Group has launched its new algorithmic trading and smart order execution strategies for the European equity marketplace.

The EdgeTrade Algorithmic Suite for European equities is based on Knight’s Fan smart order execution algorithm, which sources liquidity from multiple exchanges and MTFs while adapting and re-circulating orders where executions are occurring.

In a statement, Bradley Duke, Managing Director of Institutional Electronic Sales in Europe at Knight, said, “Liquidity fragmentation in Europe is accelerating, with new market destinations forming and liquidity increasingly migrating away from the primary exchanges. Traders need tools to simplify the process of finding actionable liquidity.”

He added, “FAN is a dynamic smart order execution algorithm, adapting to market conditions in real time and routing orders to pools of liquidity where executions are most likely to occur. It allows clients to complete trades efficiently with minimum market impact and with opportunities for high fulfillment rates and price improvement. Knight also recognizes the complexities of equity clearing in Europe, so FAN allows clients to complete trades across multiple market centers on just one ticket.”

The offering also includes different benchmark and participation algorithms designed for European markets such as Arrival Price, VWAP, TWAP, Smart VTrack and Target Close.

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