As part of the agreement, AlgoSpan and ALGO
Technologies will also seek to expand their offerings to Interxionas other data centres in Frankfurt, Stockholm, Zurich and Madrid.
Some algos trade on the back of news sites and what is trending on social media, so negative Brexit headlines could've led to an algo taking that as a sell signal for GBP.
Brokers like BAML currently offer a suite of algos including standard, established algorithms such as VWAP (volume-weighted average price), as well as implementation shortfall algos such as Ambush.
Good algos are now essential for every major volume trader, as they dramatically reduce costs by finding the most liquid pools of stock, the best spreads, the shortest latency times, and the cheapest fees, all while performing an array of transactional analyses in a fraction of the time it would take a human trader to do so.
Noting continued client demand for pairs and other market-neutral strategies, such as statistical and risk arbitrage, the firm said the pairs algos will work in conjunction with its smart order router, thereby enabling access to a wide range of liquidity sources.