2012 QUANT GOLD BOOK


2012 quant gold book

COVER STORIES

GOLD BOOK 2012: Heavy Focus on Algorithms, Less Cloud Technology Exploration
Despite the challenges buy-side traders face, this year's group of Quant Gold Book honorees have the drive and intelligence to reach their targets.

QUANT GOLD BOOK 2012: RBC's Ryan Larson Favors Man Over Machine
As the head of U.S. equity trading for RBC Global Asset Management, Ryan Larson often focuses on liquidity analysis to avoid being gamed by high-frequency traders. But he emphasizes the human element as much as quantitative analysis.

QUANT GOLD BOOK 2012: AJO Partners' Douglas Dixon Takes on the World
Douglas D. Dixon, principal and trader at AJO Partners, explains why AJO is eyeing emerging markets over the next year and why the firm isn't ready to store its tick data in the cloud just yet.

QUANT GOLD BOOK 2012: Quantavium Capital's Youngju Nielsen Is a Fixed Income Rock Star
Youngju Nielsen, co-founder of Quantavium Capital, believes there will be many changes on the horizon for fixed income trading to allow it to become a more transparent process that should attract investors and traders. As Quantavium prepares to launch in the third quarter of 2012, Nielsen talks with Advanced Trading about the firm's use of algorithms, the cloud, broker benchmarks and more.

QUANT GOLD BOOK 2012: EDAC Trading's David Allen Is Wired for Success
EDAC Trading's David Allen says he considers the new fund management firm ultra-practical and sensible in strategy design, heavily algorithmic in execution and data-dependent in R&D. He talks to Advanced Trading about EDAC's use of technology to support decision making.

ANATOMY OF A TRADING FLOOR

Inside Abel Noser's Trading Floor
Advanced Trading takes you on an exclusive tour of Abel Noser's New York trading floor, where the agency broker known for transaction cost analysis, is customizing algorithms for the buy side, while growing its fixed income trading and transitions business.

EDITOR'S NOTE

The Risk and Transparency Tango
Today's traders are not plagued with worries about flash crashes, macroeconomics or monthly jobs reports; instead, they are focused on riding the ups and downs of the trading day to maximize their portfolios and best serve their clients.

TRADING TECH DIRECTORY

Directory of U.S. Dark Pools
Despite their critics, dark pools remain a vital tool for traders looking to move large blocks without alerting the market or to source scarce liquidity. Advanced Trading's dark pool directory sheds light on the industry's top dark destinations, including details on the types of orders they trade, who can participate in the liquidity pools and the anti-gaming technology they employ.

INDUSTRY VOICE

Regulatory and Technological Changes: How to Create Competitive Advantages in the Derivatives Markets
Restructuring of the derivatives markets will create new revenue opportunities for those firms that have prepared and niche opportunities for new participants.

MARKET INTELLIGENCE

The SEC Ups its Game with High Frequency Trading Tools
The top regulator contracted with Tradeworx, a Redbank, NJ-based high frequency trading firm and vendor, to supply it with a market data and research platform for policing the equities and options markets.

FIX Protocol Risk Checks Take Aim at Fat Finger Trades, Errant Orders
With trading strategies becoming increasingly complex, FIX Protocol Limited is taking aim at errant orders and fat-finger trades with an updated set of guidelines for brokers and their buy-side clients.

With Exchange Volumes Down, Lightspeed Turns to ATS
In a push to find liquidity amid falling trading volumes on public exchanges, Lightspeed will route orders through the PDQ alternative trading system.

STREET CRED

Would Going Back to Simpler Times Re-Inflate the Equities Market?
Many market participants are saying we need to go back to simpler times, when spreads were wider, trading was slower, markets were simpler, research was more prevalent, and capital was more pervasive. But, Larry Tabb asks, would that really fix the equity markets?

AT THE CLOSE

Cruel Justice and the Knightmare on Wall Street
In the absence of regulation to protect the markets, participants seem to have punished Knight Capital for its crimes.