Cowen Launches Trading Algorithms For Europe
Cowen Inc. announced that it has launched its full suite of liquidity seeking and best-in-class execution products in Europe. Cowen Execution Services Limited, the Company’s UK-headquartered business platform, is a top independent, non-conflicted trading platform providing execution services in more than 100 markets worldwide over a full range of multi-asset capabilities.
Dan Charney, Co-President, Cowen and Company, said: “Cowen is the only full service, non-bulge investment bank and agency equity trading platform with premier research and execution services that remains unconflicted and singularly focused on client outperformance. Our US clients have benefited from the fact that we are 100 percent aligned with their execution needs and have access to trading algorithms that support venue liquidity and price analysis, parent/child order performance, anonymity, and critical aspects of order execution practices.”
Matt Cyzer, CEO, Cowen Execution Services, Ltd, added, “Cowen’s unique trading products are derived through quantitative research focused on market microstructure, portfolio execution optimisation, anti-gaming, short term alpha modeling, and execution optimisation, among other factors. In addition, our algos can be tailored to specific client needs. Our entire approach is best execution that is unconflicted with post-trade analysis to ensure constant evolution against ever changing market structure. We are extremely pleased to bring forward a full suite of these capabilities, specifically tailored for the European market.”
Cowen’s European trading platform features world-class capabilities for clients:
- A global platform, optimised for Europe – the European algo suite mirrors Cowen’s outstanding US product; offering a globally consistent experience for clients, but crucially enhanced with the market structure nuances of each region – built for the post-MiFID II world.
- Innovative “Heatmap” technology – Cowen’s renowned heat-mapping routing logic has been implemented in Europe to maximise the efficiency of non-displayed (“dark”) liquidity sourcing for our clients. With this stock-specific routing table (and intraday machine learning technology) Cowen has been able to trade faster, with less impact, as a result of the heat map.
- Non-conflicted routing – Cowen is not an SI nor does it operate an MTF, and that is by design. Cowen is entirely agnostic when it comes to order routing. The firm’s interests are fully aligned with those of clients
- Partnership & innovation – Cowen prides itself on delivering customised solutions for clients and partnering with them to meet their execution goals. Cowen’s platform has been built with this in mind – turnaround time on changes is as fast as intraday and typically overnight.
The use of algorithmic trading across FICC markets has increased significantly.
China A Shares now constitute 6% of the FTSE Emerging Index.
"Robots will learn an awful lot" from March's extreme volatility.
'Shortwave as a Service' provider says its speed is the new benchmark for latency between exchanges.
There needs to be more emphasis on execution cost analysis and using real-time data.