Interacting With Algorithms

Miletus Trading, a quantitative broker that specializes in algorithmic trading, introduced a Web-based interface that enables buy-side traders to interact with the broker's algorithms. The new tool, Multiverse, consists of four components: pre-trade analytics, an interface to Miletus' suite of algorithmic strategy engines, post-trade analytics and end-of-day reporting.

The pre-trade analysis is designed to help buy-side traders understand and minimize market impact by choosing the level of aggressiveness and a time horizon for trading a list of stocks. Clients can select varying levels of aggressiveness and visualize them against the time horizon for completing the trade, using charts in a feature called the Miletus Trade Impact Estimator, explains Richard Johnson, SVP in charge of product development at Miletus Trading. A summary page creates a trading schedule for each stock.

The strategy interface module is comprised of two applications: order staging and monitoring. Users can create lists of stocks, choose a particular strategy - such as implementation shortfall - enter the start time and the end type. Then, users can monitor the performance and progress of the algorithms in real time and change the parameters if the stock is moving away.

Additionally, users can filter portfolios by sector, market cap, side (buy or sell), exchange, basket and percent of volume, or look at profit and loss in dollars per share realized.

www.miletustrading.com 212-825-9699 Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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