Brian Fagen - Frank Troise
Welcome to episode six of The Algorithmic Trading Podcast, brought to you by Voices in Business and sponsored by Sybase. On today’s show, we feature an interview with Brian Fagen and Frank Troise of Lehman Brothers Inc.
Brian Fagen joined Lehman Brothers, the global investment bank, in June 2006, as Managing Director & Head of Electronic Sales. In this position, Mr. Fagen is responsible for leading the Firm’s efforts in the electronic brokerage business. He works closely with sales product managers to deliver a platform to the Firm’s clients worldwide. Additionally, Mr. Fagen is also the Head of Program Trading Sales.
Frank Troise is a Managing director and the Head of US. Equities Electronic Product Management. His responsibilities include product management for the electronic trading of equities and listed options. Products supplied by Lehman Brothers in this area include: RealTick EMS, algorithmic trading, crossing and electronic liquidity tools, and the distribution of pre- and post-trade analytical tools.
In this interview, Brian and Frank discuss Algorithmic Trading with Greg Grimer of Voices in Business and Sinan Baskan, Senior Product manager at Sybase.
Show Notes for this episode:
00:00 - Introduction
00:55 - Brian’s background
01:16 - Frank’s background
01:42 - How the US algo trading environment differs to Europe
04:10 - Who are the primary users of algo trading strategies?
04:29 - How aggressive are the hedge funds in this area?
06:28 - Trading styles and the search for arbitrage opportunities
07:26 - Growth in the customization of algo trading strategies
11:15 - Provisioning of data around development and customization
11:51 - Which customers require customized algorithms?
12:23 - Management of risk on customer positions
13:54 - Thin client dashboards and analytical data services
15:20 - Where are the technology bottlenecks?
17:54 - Extracting Alpha
20:15 - Granularity of data
22:30 - Growth of data and Moore’s Law
23:34 - Pricing power in terms of commissions
25:37 - Growth in asset classes other than equities
28:45 - End of interview and wrap-up
Click here for a full transcript of this episode.
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