JPMorgan has announced the debut of a new pre-trade algorithmic selection tool accessible directly via Bloomberg's Execution Management Service.
The investment bank says the analytics are the first of any sell-side institution to be offered through Bloomberg that offer decision support for selecting the most appropriate algorithmic trading strategy based on a number of cost and risk estimates. Users can populate order details directly from their Bloomberg trade blotter into the pre-trade selection system.
Carl Carrie, head of algorithmic product development for JPMorgan Electronic Execution Services, says: "By providing a collection of powerful and unique statistical metrics, clients can decide which algorithms are optimal for their specified objectives."
Bloomberg has been building connections to leading broker-developed algorithmic trading programs in an effort to integrate market data, order analytics and dealer conectivity. As with other order management systems, the aim is to furnish users with a selection of competing plain vanilla algorithmic execution programs. The deal with JPMorgan marks an early attempt to extend and augment user choice by offering some degree of pre-trade insight into the suitability of alternative trading strategies.