Goldman Adds New Algos in India

Goldman Sachs has released six new algorithms to its electronic trading offering in India.

The firm has provided direct market access (DMA) and algorithmic trading since early 2009 in India.

In a statement, Siddharth Chhabria, Head of India Sales for Goldman Sachs Electronic Trading, said, “We have seen strong demand for electronic trading in India this year, particularly via our algorithmic strategies…More than 90% of the equities electronic trading volume is now directed to algorithms versus straight-to-market orders.”

According to Goldman Sachs its electronic trading volume of India equities tripled, while the electronic trading volume for futures grew more than four-fold during the second quarter of 2009. The newly released algorithms will give clients access to sophisticated strategies they have used in other markets, according to Chhabria. Goldman Sachs offers a range of algorithmic strategies in Asia, including benchmark matching (VWAP, TWAP, 4Cast), dynamic volume participation (Participate, Dynamic Scaling), and liquidity seeking (SONAR, Piccolo) algorithms.