Building the Artificial Trader


However, that is not actually the case. The trader's role has matured in lockstep with the advances in electronic trading. Those traders who performed the simple task of keying tickets into their firms' order management systems (OMSes) were the first victims to fall to automation. Soon after were the traders whose job it was to decide where to route their order flow.

Ever since the US Securities and Exchange Commission (SEC) introduced alternative trading systems (ATSes) and modified the order

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