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NYSE Rolls Out Algorithms Supplied by Deep Value to Floor Brokers

Exchange introduces concept of Deep Value 'microstrategies' to boost trading floor brokers' choice of automated capabilties.

NYSE Euronext completed phase one of a rollout of more than 20 execution algorithms provided by Deep Value Inc., augmenting its trading floor broker algorithm initiative, according to the exchange release today.

Since the program’s inception in July 2008, trading floor brokers have utilized algorithmic execution strategies directly from their hand-held devices to supplement their high-touch service. All algo strategies are available for use by floor brokers trading NYSE and NYSE Amex-listed issues.

“Deep Value brings a highly innovative approach to algorithmic trading. Designed in collaboration with floor brokers, this initial suite of Deep Value algorithms introduces the concept of microstrategies, sophisticated quoting and execution strategies that automate the rapid and intuitive characteristics found in the trading tactics of floor brokers,’ stated Michael Rutigliano, VP-Broker Liaison, NSYE Euronext.

These customized strategies were designed specifically for floor brokers to strengthen their automated abilities, enable them to engage in sophisticated new behaviors to deliver performance, seek and attract dark and block-sized liquidity and provide significant price improvement, according to Rutigliano in the release. “This is yet another step in the exchange’s ongoing commitment to provide customers who utilize floor brokers with richer and more diverse execution choices,” added Rutigliano in the release.

Deep Value servers are co-located in NYSE Euronext’s data centers and directly utilize NYSE Technologies’ Super Feed market data to minimize latency and maximize the value of the algorithms to the floor broker community and their customers.

Founded in 2005, Deep Value’s algo line-up includes dark pool accessors, standard algorithms and a wide variety of custom vehicles. “Where previously customers could essentially only choose one or the other, we are now providing an array of sophisticated algorithms and narrower computer-driven tactics that brokers can use as automated assistant to serve their customers better,” stated Harish Devarajan, managing director of Deep Value in the release.

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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