Of Special Interest


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24th April 2012

UBS clients use iPad to design trading algorithms

UBS clients can now use iPads to develop trading algorithms. The new service is part of Quant on Demand (QUOD), a section of the UBS Direct Execution trading group. UBS explain the iPad algorithm-development application allows UBS clients to see simulations of how fast and at what prices standardised or custom algorithms will process an order, based on the automated behavior and parameters chosen and limits on acceptable prices or the volume-based rate of trading. The system uses data from quiet or volatile days, based on what the trader wants to test.

When a customer finishes constructing an algorithm with a UBS employee, he presses a button and sends it to the bank’s development team so it can be vetted and tested. Risk filters are applied before the user can employ it a day or two later. The system is said to avoid confusion, errors or delays that can be associated with relaying requests by telephone or email. The service is available initially in North America and Europe. The bank expects to expand this to Asia Pacific before year end.

Charles Susi, managing director in equities and described as co-running the electronic group at UBS said: “It is super-powerful and way less scary. . .It allows clients to have the perfect algorithm for them. They get the benefit of our research lab. We make clients happy and the ultimate goal for us is to get more clients and market share.”