UBS global head of algorithmic trading Owain Self said that the bank’s plan is to turn the process of product development and execution consulting on its head – making its platform client-centric and more immediate.
"The first tool we are launching in this family is ‘UBS QUOD Studio’ — an iPad-based application that delivers a next-generation, rapid algorithmic development framework. UBS Quant on Demand will, over time, deliver a series of highly sophisticated and automated quantitative, consultative and personalized solutions to clients ‘on demand," Self said.
The application also allows users to check the performance of algorithms before they build them, so they can try it, said the company.
UBS global head of cash Phil Allison said what makes QUOD Studio unique is that UBS is custom fitting its technology to meet client needs.
"Traders can simulate performance of algorithms before they build them – so they can try "what if" scenarios to see how the outcomes may change when various components and triggers are changed," Allison said.
Contrary to the time consuming traditional custom algorithmic development process, UBS QUOD Studio allows users to quickly create strategies opportunistically and change their minds often, claims UBS.
The new application also eliminates the need of quantitative analysts and developers to code thousands of lines of commands and engage in weeks of testing and adjustments, as the same can be completed within 24 hours using QUOD Studio.
The bank said that it will immediately provide the application for UBS specialist-driven client use in the Americas, Europe, Middle East and Africa, while the same will be be made available across the Asia-Pacific region later this year.
