Passing the test
Algorithmic trading has become increasingly important for dealers and investors in the equity markets, contributing to a strong rise in equity trading volumes over the past year. But how did these systems respond to the sell-off in equity markets in March? Clive Davidson reports
Until recently, trading algorithms had fairly calm seas in which to operate, and their generally positive performance encouraged a wide uptake on the buy and sell sides. Then came the volatility of February and March, with the New York Stock Exchange's (NYSE) new Hybrid Market trading system and the Dow Jones Industrial Average index both crashing under the strain. But reports from algorithm providers suggest their trading robots relished the turbulence, transacting record volumes while the
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