Bloomberg Tradebook, Bloomberg's global agency brokerage, has released a Relative Benchmark Trading algorithm for its cross-asset trading platform, Pair.
Users will be able to generate alpha, lower trading costs and manage risk because they will be able to trade a security relative to a set benchmark. The new algorithm can be used on an intraday basis, and users can track the performance of other instruments that drive the stock price via Bloomberg's data.
"In today's complex global equity markets, buy-side traders need an integrated system for order and execution management that can help them gain greater control of their trading decisions," said Michael Baradas, cross-asset product manager at Bloomberg Tradebook. "With the new Relative Benchmark Trading algorithm on the Pair platform, Bloomberg Tradebook is empowering clients with the tools needed to implement and execute the most effective alpha-generating strategies."
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