Leveling the Playing Field
Traders Magazine, December, 2005 by Michael Scotti
Technology is equity trading's great equalizer. Tools like DMA aggregators, algorithmic strategies and matching systems are found on the desks of both large and small money management firms.
That axiom also applies to Citizens Advisers, a Portsmouth, N.H., firm managing $650 million in equities. "An outsider looking at a small mutual fund company in Portsmouth, New Hampshire, might not think we have the latest trading technology," says head trader Kevin Schneider. "But we have all the tools we need to get our business done."
The firm just installed Goldman Sachs' RediPlus front end, primarily to access Goldman's algorithms. On a dollar basis, about 44 percent of the firm's flow is executed electronically. The largest percentage of that business is done using DMA...
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