Ghost Algo to Watch Price Movements in Markets
By Tom Steinert-ThrekeldInstitutional broker Weeden & Co. said it has come up with a “ghost” algorithm, that waits in public and dark trading venues until if finds prices that it wants.
The algorithm was developed in partnership with Pragma, a New York supplier of trading tools. Ghost, the Greenwich, CT, broker and its partner said, is “ built to patiently and intelligently work an order using a stock’s price action as a primary driver for its execution speed.”
Ghost increases the rate at which trading is conducted when the price becomes favorable, allows for other trading by other parties so trading does not get blocked and the stock can “naturally continue its price trend.
The algorithm was developed in partnership with Pragma, a New York supplier of trading tools. Ghost, the Greenwich, CT, broker and its partner said, is “ built to patiently and intelligently work an order using a stock’s price action as a primary driver for its execution speed.”
Ghost increases the rate at which trading is conducted when the price becomes favorable, allows for other trading by other parties so trading does not get blocked and the stock can “naturally continue its price trend.
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