Machine Learning will Create New Sales Bots on Trading Desks

Trading is moving to a point where there is almost no human involvement, as market participants employ algorithms that generate – and respond to – indications of interest (IOIs), according to Giuseppe Nuti, head of machine learning at UBS.

“I imagine that in the next few years, we’re going to see a lot more approaches coming up. So much so that it will even be algorithmic-to-algorithmic IOIs, almost removing the human component,” Nuti said.

Market-makers issue IOIs, or ‘axes’, to signal