IBM: Algos to Replace City Traders
CYBER-TRADING TECHNOLOGIES
LONDON-Nine out of 10 traders in the City of London will be out of a job in 2015, mainly because of the rise of algorithmic trading. That is according to an IBM white paper released last week. However, securities firms' officials and analysts doubt the numbers.
IBM cites predictions from Goldman Sachs and the Tabb Group in its white paper. According to Goldman Sachs, "within 12 months, 60 percent of the deals struck on the London market will be generated from black box systems." In addition, the
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