Electronic-Trading Newsflashes
Lehman Brothers Partners With Bloomberg to Offer Clients Direct Access to Its Algorithmic-Trading Models
Lehman Brothers partnered with Bloomberg to offer Bloomberg customers "Direct to Model" access to the global investment bank's automated algorithmic trading engines.
Lehman Brothers' clients will have access from the Bloomberg equity order-management system to the algorithmic-trading tools used by traders in its equities execution services effort. The model-driven tools were originally developed by Lehman Brothers' Equities Quantitative Analytics and Equities Technology groups for its equities traders.
Once enabled, Lehman clients will be able to select their preferred trading algorithm from a menu in the order-management screen within any Bloomberg terminal.
"Delivering Bloomberg clients Direct to Model access to automated strategies, available previously only to our trading desk, is an exciting and important development for Lehman Brothers," states Jeffrey Wecker, head of global connectivity at Lehman Brothers, in the release. "Our partnership with Bloomberg provides clients an easy way to use the same algorithmic trading tools that our traders use every day," Wecker further states in the release.
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