Brokers Unfazed by Exchange Algos

Banks often build that sort of technology because exchanges lack some functionality, says Tim Wildenberg, managing director, head of direct execution at UBS Europe, who spoke during a recent industry panel discussion on algorithmic trading. Typically, clients familiar with one exchange's functionality may come to UBS requesting an algorithm to provide similar capabilities that they can use somewhere else, he explains, adding that these offerings are more tactics than strategies.

With the E.U.'s