The global Equities business of UBS has launched algorithmic trading for international clients trading equities on the Bovespa stock exchange in Brazil. UBS is one among the broker-dealers to offer non-Brazilian clients algorithmic trading in this major market.
UBS has launched three popular algorithms: Volume Weighted Average Price (VWAP), Time Weighted Average Price (TWAP) and Volume Inline, a strategy that enables an investor to execute an order correlated to available liquidity. UBS clients can use these algorithmic trading strategies to quickly and efficiently send their electronic orders directly to the Bovespa, without passing them through an intermediary.
Owain Self, head of algorithmic trading for EMEA and the Americas at UBS Investment Bank, said: “We gained a tremendous amount of experience over the last year with our Direct Market Access offering in Brazil, and our intention has always been to add algorithmic trading.
“Our successful DMA platform provided the ideal knowledge base to build algorithmic strategies for the Bovespa in a truly custom way – specifically geared to the unique attributes of this market. This development is particularly exciting as our clients who trade stocks in Latin America have had an extremely positive response.”
Raul Esquivel, head of the UBS Investment Bank for Latin America, said: “The launch of algorithmic trading into Brazil is a perfect example of our ongoing commitment to the region. We are pleased to offer these sophisticated strategies to our international clients who wish to efficiently tap the abundant investment opportunities in this dynamic marketplace.”
