#Quant trading gets up close and personal
UBS makes it possible for clients to design their own customized trading algorithms
In an effort to improve results, UBS AG intends on making it possible for its clients to create their own trading algorithms using Apple’s iPad. Now, customers will be able to use their own device to design a trading algorithm that can help them specify the strategy they wish to use.
Traders can use pieces of already-designed algorithms and then change bits and pieces until it is exactly what they’re looking for. In order to make sure clients aren’t disadvantaging themselves, UBS’ development team tests the algorithms and applies risk filters to make sure they function correctly before approving them for client use.
Owain Self of UBS approves of the strategy, claiming it will increase efficiency and decrease miscommunications between clients and UBS employees.
The company’s move towards helping clients have more control over their algorithmic trading is called "Quant on demand". While banks have previously offered customized algorithms to clients, this new program will take the next step in making the trading strategies completely personalized.
The program is currently focusing on clients in the U.S., Canada and Europe, where UBS employees will soon be visiting clients and instructing them in how to use the application properly.
Charles Susi of UBS says: “It allows clients to have the perfect algorithm for them…They get the benefit of our research lab. We make clients happy and the ultimate goal for us is to get more clients and market share.”
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