Bloomberg has unveiled a new portfolio algorithm for fund managers. The portfolio algorithm, part of agency brokerage Bloomberg Tradebook, is aimed at equity portfolio rebalancing or so-called “program trades”. The new tool, which connects to more than 70 liquidity venues in over 41 countries, will allow buy-side traders to bypass sell-side trading desks. The algorithm seeks to lower risk and expense of portfolio trades by automatically adjusting trades to reflect moves in currency prices, and tracking exposures to small trades and multiple trading venues.
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