Futures Trading Algorithms Find Traction

Ernest Hemingway likened writing to an iceberg, with a “dignity of movement due to only one-eighth of it being above water.” These days, trading in futures contracts is shaping up similarly, with recent provision for iceberg orders and other piecemeal execution types at major trading venues, allowing more to flow beneath the surface but also giving birth to newly demanded algorithms to spot them. Is Hemingway’s “theory of omission,” as it was subsequently called, sustainable in this once