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CA Cheuvreux Deploys Algorithmic Strategies On Turkish Market

Rule changes on the Istanbul Stock Exchange allow clients to cancel orders or decrease order sizes without involving a local broker.

Credit Agricole Cheuvreux is now offering its full range of algorithmic products on the Turkish market as a result of rule changes on the Istanbul Stock Exchange (ISE).

CA Cheuvreux, a pure agency European equity broker, already provides sales trading and direct market access in Turkey as a member. However, until now, rules on the ISE limited the use of algorithmic trading tools.

As of today, the new trading rules on the ISE allow an order to be cancelled intra-session, which means that clients are now able to directly cancel orders or decrease order size without any intermediation from the local executing broker, as was previously the case. As a direct consequence, CA Cheuvreux has immediately deployed its 13 standard and custom algorithmic strategies for trading on the ISE.

Ian Peacock, Global Head of Execution Services at CA Cheuvreux, said in the release: “Turkey is a very interesting region and a market that has shown exceptional growth. CA Cheuvreux opened its local office in 2008 with analysts covering almost 70 percent of the ISE-100 stocks and a local execution team providing expert market knowledge. This high touch approach coupled with the addition of the ISE to our full low touch product range completes our offering. "

As of today the exchange will also implement a fully anonymous market structure where the Buyer or Seller's information will not be published until T+1.

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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