Nomura Securities International has released a new tactical trading algorithm called SmartSeek for trading in both lit and dark markets.
SmartSeek relies on an opportunistic liquidity-seeking model that dynamically evaluates market conditions and reacts to favorable trading opportunities to balance minimizing impact and maximizing order completion.
The algorithms supports order placement tactics from posting passively within the order book locating hidden liquidity at the mid-price within dark pools to grabbing liquidity aggressively.
Users can modulate the behavior of the strategy through an aggressiveness parameter and specify trading constraints such as maximum volume participation rates, minimum fill requirements and trade interval settings.
In a statement, Amit Manwani, U.S. head of agency program and electronic trading at Nomura, said, “It will enable traders that are not benchmarked to any specific trading style to benefit from our high frequency alpha engines and order placement tactics to opportunistically source liquidity from all available destinations. It has had great success with our internal trading desks and we hope our electronic clients can benefit from it as well.”
SmartSeek is part of Nomura’s ModelEx global algorithmic product suite.