The rollout provides a standard product suite across all three geographies that contains region-specific market structure expertise, provides access to multiple pools of liquidity, and takes the functionality and ease of use of the algorithms to a high level.
The enhanced functionality is demonstrated in three new innovative algorithms: MultiScale, Trader and Panel, all of which allow a trader to take control over executions and be more responsive to the changing market dynamics.
These algorithms are built to address two of the features most coveted by algorithmic traders: ease of use in terms of switching seamlessly between working algorithms, and the ability to have control over the algorithm’s execution logic. This functionality will appeal to active traders looking to supplement a given algorithm’s quantitative decision making with the trader’s ability to add value opportunistically and on a real-time basis.
Jatin Suryawanshi, managing director and head of global quantitative strategies, at Jefferies, said: “These trading strategies were built with today’s market structure in mind and with a goal to deliver the greatest value to our institutional clients and internal trading desks. This new suite of algorithms offers a more scientific approach to market fragmentation, alternate liquidity sources and other factors impacting today’s market structure.”
Daniel Charney, head of global electronic trading services at Jefferies, said: “We believe this rollout will transform the way traders interact with their algorithms. Mr Suryawanshi’s expertise in global market structure, as well as his practical experience in trading, has allowed our development team to be truly innovative and differentiated in a space that is generally considered commoditized. This rollout is a significant step in Jefferies’ quest to be the leading provider of global electronic trading solutions for institutional investors.”
