Goldman Emerges as Global Algo Leader
As Wall Street traders continue to expand their use of algorithms, bulge-bracket firms have been flexing their muscles to remain a major force as providers and promoters of these models and related tools. These brokerages account for 65 percent of algorithmic trading volume, according to research firm Aite Group, and a handful of well-funded and savvy leaders in the bulge-bracket camp have emerged, including Goldman Sachs Group.
In a report titled "Bulge Bracket Firms & Algorithmic Trading: The Big Get Bigger," published by Aite in November 2006, Goldman Sachs is cited as a leader among sell-side algo providers, boasting upward of 2,000 clients, ahead of Credit Suisse's 1,200 client base and Morgan Stanley's tally of 1,000.
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