KCG goes algo! New system captures liquidity for micro alpha in electronic trading


KCG Holdings, Inc. (NYSE: KCG) today announced the release of “Catch,” a client execution algorithm designed to leverage smart logic, adaptability and advanced analytics to capture liquidity and achieve incremental micro alpha. Catch is the newest strategy in a suite of algorithmic trading offerings developed by KCG to translate the firm’s deep market making expertise to the benefit of its electronic trading clients.

“Catch leverages the power of our nuanced fair value models, market analytics and routing logic,” said Charlie Susi, head of KCG Electronic Trading. “We designed it as a strategy for our clients who want to track arrival price as closely as possible, minimize potential impact, and yet benefit from all of those incremental opportunities to extract better performance. It trades using the expertise a market maker would use – staying flexible and adapting as it watches inventory and market conditions in real time.”

Catch has a highly flexible participation range, so that it has room to move and pursue liquidity as needed. Clients can determine its urgency level, selecting “Passive,” “Neutral” or “Aggressive,” depending on how they want the strategy to behave.

This new strategy follows on the success of the firm’s earlier release of “Opportunistic,” a liquidity-seeking algorithm that combines the benefits of market maker-like order management logic with comprehensive access to internal and external market liquidity.

Greg Tusar, KCG’s Head of U.S. Client Services, said: “The offerings our electronic trading business has developed this year demonstrate how KCG is harnessing the firm’s focus on execution quality, deep understanding of liquidity and market microstructure, and commitment to innovative technology to deliver measurable benefits to our clients. We’ve seen a lot of early interest in Catch, particularly from our institutional clients.”

For the official release from KCG, click here.

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KCG goes algo! New system captures liquidity for micro alpha in electronic trading

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