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Deutsche Bank Launches Super X Algo

Super X enables the client to manage access to dark liquidity, while avoiding adverse selection and minimizing the trade footprint, according to Deutsche Bank.

Deutsche Bank’s Autobahn Equity electronic trading business, within its Global Markets division, has released the Super X algorithm in the United States and Europe.

Super X applies a quantitative approach to allowing clients to manage their access to dark liquidity using Deutsche Bank’s real-time analytics. The strategy’s sophisticated logic is designed to dynamically avoid adverse selection while minimizing the trade footprint, according to the release. Super X balances urgency and price on a pool-by-pool basis and provides clients with thorough post trade performance metrics.

“Dark pools fundamentally offer a trade-off between quality and quantity of execution which can vary by venue, capitalization and volatility regime,” commented Alex Paley, global head of algorithmic Development, in the release. “Super X solves this challenge by accepting client preferences to balance liquidity with impact through the use of dynamic models of individual pool behavior and stock specific price levels,” explained Paley in the bank’s release.

“Super X moves well beyond simple dark pool aggregation or naïve heat map based routing strategies, according to Jose Marques, global head of equity electronic trading, in the release. “With SuperX, institutional traders have a truly innovative tool for maximizing the efficient use of dark liquidity irrespective of the ultimate counterparty,” stated Marques.

All Deutsche Bank’s algorithms, including Super X are fully integrated with Deutsche Bank’s ultra-fast smart order router, which adapts the execution of trades to all available dark and displayed venues, according to the release

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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