Electronic and Algorithmic Trading Technology

Electronic and Algorithmic Trading Technology

The Complete Guide

1st Edition - June 20, 2007

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  • Author: Kendall Kim
  • eBook ISBN: 9780080548869
  • Paperback ISBN: 9780123724915

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Electronic and algorithmic trading has become part of a mainstream response to buy-side traders’ need to move large blocks of shares with minimum market impact in today’s complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larger order flow is becoming a reality. The higher reliance on electronic trading has had profound implications for vendors and users of information and trading products. Broker dealers providing solutions through their products are facing changes in their business models such as: relationships with sellside customers, relationships with buyside customers, the importance of broker neutrality, the role of direct market access, and the relationship with prime brokers. Electronic and Algorithmic Trading Technology: The Complete Guide is the ultimate guide to managers, institutional investors, broker dealers, and software vendors to better understand innovative technologies that can cut transaction costs, eliminate human error, boost trading efficiency and supplement productivity. As economic and regulatory pressures are driving financial institutions to seek efficiency gains by improving the quality of software systems, firms are devoting increasing amounts of financial and human capital to maintaining their competitive edge. This book is written to aid the management and development of IT systems for financial institutions. Although the book focuses on the securities industry, its solution framework can be applied to satisfy complex automation requirements within very different sectors of financial services – from payments and cash management, to insurance and securities.  Electronic and Algorithmic Trading: The Complete Guide is geared toward all levels of technology, investment management and the financial service professionals responsible for developing and implementing cutting-edge technology. It outlines a complete framework for successfully building a software system that provides the functionalities required by the business model. It is revolutionary as the first guide to cover everything from the technologies to how to evaluate tools to best practices for IT management.

Key Features

  • First book to address the hot topic of how systems can be designed to maximize the benefits of program and algorithmic trading
  • Outlines a complete framework for developing a software system that meets the needs of the firm's business model
  • Provides a robust system for making the build vs. buy decision based on business requirements


CEOs, CTOs, IT professionals, investment managers as well as traders in the financial industry who desire to understand the evolving landscape of trade technology. The objective of this book is to help readers gain a competitive advantage for best price execution, understand inhouse techonology solutions or software vendor products, and to inform readers regarding the effects of regulatory intervention.

Table of Contents

  • CHAPTER 1 Overview of Electronic and Algorithmic Trading

    CHAPTER 2 Automating Trade and Order Flow

    CHAPTER 3 The Growth of Program and Algorithmic Trading

    CHAPTER 4 Alternative Execution Venues

    CHAPTER 5 Algorithmic Strategies

    CHAPTER 6 Algorithmic Feasibility and Limitations

    CHAPTER 7 Electronic Trading Networks

    CHAPTER 8 Effective Data Management

    CHAPTER 9 Minimizing Execution Costs

    CHAPTER 10 Transaction Cost Research (TCR)

    CHAPTER 11 Electronic and Algorithmic Trading for Different Asset Classes

    CHAPTER 12 Regulation NMS and other Regulatory Challenges

    CHAPTER 13 Build vs. Buy

    CHAPTER 14 Trading Technology and Prime Brokerage

    CHAPTER 15 Profiling The Leading Vendors


    Implementation of Trading Systems

Product details

  • No. of pages: 224
  • Language: English
  • Copyright: © Academic Press 2007
  • Published: June 20, 2007
  • Imprint: Academic Press
  • eBook ISBN: 9780080548869
  • Paperback ISBN: 9780123724915

About the Author

Kendall Kim

Kendall Kim consults as a Business Analyst and lives in Greenwich, CT.

He specializes in delivering technology solutions to Wall Street securities firms. In this role he has been responsible for the specification and implementation of large trading, risk management, and real-time market data systems. He has consulted and worked for firms such as UBS Investment Bank, Deutsche Bank, and Goldman Sachs.

Kendall holds a bachelor's degree in Economics from Boston University, Boston, MA and a master's degree in Business Administration from The College of William and Mary, Williamsburg, VA.

Affiliations and Expertise

Kendall Kim consults as a Business Analyst and lives in Greenwich, CT. He has consulted and worked for firms such as UBS Investment Bank, Deutsche Bank, and Goldman Sachs.

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