Buy-Side Technology Awards 2017: Best Buy-Side Algorithmic/DMA Product/Service—Quantitative Brokers
Quantitative Brokers takes the best algorithmic/DMA product award, following up on its success at best TCA provider last year.

Bolt sits within the QB algorithm suite designed to address particular features and behaviors of the futures and fixed-income markets not already addressed by other algorithmic offerings, which have tended to focus instead on the equities market. The suite is rounded out by Strobe, for average price within a specific window for trading on schedule and spread capture; Legger, for multi-leg spread trading; and Closer, launched last year and specifically aimed at optimizing execution relative to an instrument’s close or settlement price benchmark.
With Mifid II coming into sight on the European horizon, the buy side has never been so concerned with getting best execution right, from both regulatory and operational perspectives. The Bolt algorithm balances passive and aggressive fills, and systematically manages market risk trade-off between paying for liquidity and capturing the spread. QB has enhanced Bolt’s functionality through “artificial intelligence-like” execution technology, designed to help users minimize slippage against the arrival price benchmark to provide quantifiable best execution. Bolt has also been upgraded to support a feature allowing traders to access two new versions alongside its existing standard mode, for passive and aggressive strategies, which can be switched while working on a particular order.
Cost measurement through TCA has also become a vital part of best execution and the performance of Bolt can be assessed through QB’s visual analytics and statistics, while its TCA services have been extended to its clients as a “multi-broker TCA” service, facilitating a comparative assessment between Bolt and the rest of the QB’s algorithm suite, and users’ other execution providers.
QB’s development as a technology provider has not gone unnoticed by financial backers, as the broker attracted a $24 million strategic investment from Centana Growth Partners in July this year. The investment will allow QB to expand its quant research, algorithm development and its trading platform teams as it looks to break into new asset classes like options on futures contracts and regions, where it is seeking to provide services for Asian futures and exchanges.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
BST Awards 2023 winner's interview: S&P Global Market Intelligence (managed data service)
S&P Global Market Intelligence won the best managed data service in this year's Buy-Side Technology Awards.
AFTAs 2023: Most innovative third-party technology vendor (data, data services & data management)—SmartStream Technologies
Project: Reference Data Utility (RDU)
AFTAs 2023: Best IT team (sell side)—Goldman Sachs
Team: Goldman Sachs Marquee
AFTAs 2023: Best new technology introduced over the last 12 months (AI & machine learning)—CompatibL
Project: CompatibL AI
AFTAs 2023: All the winners and why they won
Here are the winners of the 30 categories in the 2023 American Financial Technology Awards. This year's multi-category winners are JP Morgan, Morgan Stanley, Goldman Sachs, Northern Trust and Wells Fargo.
AFTAs 2023: Best IT team (buy side)—TCW Group
Team name: Architecture and Engineering Team (AET)
AFTAs 2023: Best third-party technology vendor IT team—Devexperts
Project name: DXtrade XT