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Screenshot of a breaking news alert e-mail from Q2 2017
Bloomberg Tradebook, Bloomberg’s global agency brokerage business, today announced the addition of In-Trade functionality to its award-winning Strategy Analyzer (STAZ) product. STAZ combines the breadth of Bloomberg’s data and analytics with Tradebook’s proprietary predictive models to help traders evaluate and adjust their trading strategies in real-time to achieve better execution results.
This enhancement to STAZ underscores Bloomberg Tradebook’s commitment to investing in technology that empowers traders to make informed trading decisions by combining real-time market data (for which the traders are enabled), predictive models and order performance metrics on a single screen. Currently, STAZ processes 3 billion ticks per day across 450,000 equity symbols to produce analytics and predictions in real-time.
“Market data without actionable insights is really just noise. STAZ In-Trade is helping traders extract these insights to make more informed decisions about their strategies,” said Kapil Phadnis, Head of Algorithmic Trading Quantitative Research at Bloomberg Tradebook. “We’re providing transparency into how algorithms operate, giving traders access to the information they need to adjust their trading strategies in real-time based on market conditions.”
Institutional investors today are increasingly reliant on the technology used to analyze trading strategies to handle large volumes of market data, particularly as global markets become more electronic. This can present certain challenges if the data isn’t organized and put into context, especially in times of high market volatility. For traders handling large or complex trades, the immediate feedback gained from the powerful predictive analytics of STAZ In-Trade enables better estimates of remaining trading and auction volumes in uncertain times. By helping traders to understand equity market trading behavior in real-time, STAZ In-Trade allows traders to quickly activate the right algorithm for a stock or list, helping to reduce the implicit costs of trading.
Available for stocks in over 40 countries before, during and after market hours, STAZ In-Trade is the only screen to provide uninterrupted and consistent global access to this data on the Bloomberg Professional service. As this is available through the Bloomberg Professional service, traders can enjoy the convenience of access to all their real-time data on one screen, which can be quickly configured to the individual’s specific benchmarks or workflow preferences.
STAZ In-Trade is also the only screen that leverages powerful predictive models to produce real-time estimates of remaining trading volume and option volume. In addition, STAZ uses machine learning models to estimate market impact specific to business strategies. This gives traders insight into the decision engine of Bloomberg Tradebook’s algorithms, allowing them to evaluate execution quality, which is becoming a priority because of pending regulatory mandates. Traders are also able to track performance of their orders against the following seven lanes of execution: Bid, Mid, Ask, Open Auction, Closing Auction, in Blocks and in Dark.
Bloomberg Tradebook’s STAZ, was first launched as a pre-trade tool and since then, multiple enhancements have been made to help electronic algorithmic traders achieve best execution.