The high quality investor engagements and demand generation for our fund-raise demonstrate the strength of the I-Sec platform. Their huge network has helped take Mutual Funds to all segments of investors. With the launch of "One Click" investment tool providing a Goal based and Solution oriented approach, I-Sec has taken investing to the next level. The website is extremely user friendly and easy to navigate. I like the way all assets are clubbed together in Portfolio and statements.

Research recommendations are also quite good. It has grown from just having a digital asset, to offering multiple user-friendly features for transacting. It gives a quick, easy and comfortable experience to its clients. Over the years, it has evolved as a platform and continues to be a pioneer in the online transaction space. Our relationship with ICICI Securities spans more than 25 years and it has been a fulfilling association with them as a partner in our growth. With their superior technology, ICICI Securities has elevated the entire customer experience of mutual fund investing online.

The effective use of technology throughout the customer journey by providing them with the relevant tools has enabled a seamless and effective process for investors. The ease of transaction ensures that our joint customers enjoy the convenience that one seeks while investing and keeps coming back given their positive experience. ICICI Securities has deep knowledge across various asset classes and they thrive hard to bring the best advice to their clients.

This enables an environment of trust and long term partnership. Dealing with the Isec team has been a rewarding experience. Their responses to my queries have been prompt and knowledgeable. They also keep me informed of news that could impact the investment climate in general as well as my specific portfolio. My good wishes to the team and hope they keep up the high standards set by them.

As an ICICI Direct customer for more than a decade and a half, and who has also used similar services from other providers, it is undoubtedly the most advanced technologically. My usage through the years has been virtually glitch free and ICICI Direct is relentless in offering new technologies that make investing easier.

High-frequency trading

In Spite of not being very tech savvy, I am able to perform all my transactions by myself. We are available everywhere. Online, on-call and in-person visits. Manoj Menon, Head? Sep 8, Watch Mr. Pankaj Pandey, Head? Anupam Guha, Head? Aug 31, Future Enterprises deal. Aug 3, Diversifying the portfolio allows the users to minimize their risks by spreading the risk over various instruments.

Even though the underlying algorithm is capable of performing well in the live market, an internet connection malfunction could lead to a failure. Although the computer is processing the orders, it still needs to be monitored because it is susceptible to technology failures as shown above.

TECHNOLOGIES OF SCALE

An algorithm that performs very well on backtesting could end up performing very poorly in the live market. Good performance on backtesting could lead to overly optimistic expectations from the traders which could lead to big failures. The concept of automated trading system was first introduced by Richard Donchian in when he used a set of rules to buy and sell the funds. Then, in the s, the concept of rule based trading became more popular when famous traders like John Henry began to use such strategies.

In the mid s, some models were available for purchase. Also, improvements in technology increased the accessibility for retail investors.

Systematic trading

These kinds of software were used to automatically manage clients' portfolios. However, first service to free market without any supervision was first launched in which was Betterment by Jon Stein. Since then, this system has been improving with the development in the IT industry. Now, Automated Trading System is managing huge assets all around the globe. Automated trading system can be based on a predefined set of rules which determine when to enter an order, when to exit a position, and how much money to invest in each trading product.

Trading strategies differ such that while some are designed to pick market tops and bottoms, others follow a trend, and others involve complex strategies including randomizing orders to make them less visible in the marketplace. ATSs allow a trader to execute orders much quicker and to manage their portfolio easily by automatically generating protective precautions.

Backtesting of a trading system involves programmers running the program by using historical market data in order to determine whether the underlying algorithm can produce the expected results. Backtesting software enables a trading system designer to develop and test their trading systems by using historical market data and optimizing the results obtained with the historical data. Although backtesting of automated trading systems cannot accurately determine future results, an automated trading system can be backtested by using historical prices to see how the system would have performed theoretically if it had been active in a past market environment.

Forward testing of an algorithm can also be achieved using simulated trading with real-time market data to help confirm the effectiveness of the trading strategy in the current market. It may be used to reveal issues inherent in the computer code. Live testing is the final stage of the development cycle. In this stage, live performance is compared against the backtested and walk forward results. The goal of an automated trading system is to meet or exceed the backtested performance with a high efficiency rating.

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Automated trading, or high-frequency trading, causes regulatory concerns as a contributor to market fragility. The use of high-frequency trading HFT strategies has grown substantially over the past several years and drives a significant portion of activity on U. Although many HFT strategies are legitimate, some are not and may be used for manipulative trading. A strategy would be illegitimate or even illegal if it causes deliberate disruption in the market or tries to manipulate it. Such strategies include "momentum ignition strategies": spoofing and layering where a market participant places a non-bona fide order on one side of the market typically, but not always, above the offer or below the bid in an attempt to bait other market participants to react to the non-bona fide order and then trade with another order on the other side of the market.

Given the scale of the potential impact that these practices may have, the surveillance of abusive algorithms remains a high priority for regulators.

The Financial Industry Regulatory Authority FINRA has reminded firms using HFT strategies and other trading algorithms of their obligation to be vigilant when testing these strategies pre- and post-launch to ensure that the strategies do not result in abusive trading. FINRA also focuses on the entry of problematic HFT and algorithmic activity through sponsored participants who initiate their activity from outside of the United States.

FINRA conducts surveillance to identify cross-market and cross-product manipulation of the price of underlying equity securities. Such manipulations are done typically through abusive trading algorithms or strategies that close out pre-existing option positions at favorable prices or establish new option positions at advantageous prices.

Financial Information eXchange - HandWiki

In recent years, there have been a number of algorithmic trading malfunctions that caused substantial market disruptions. These raise concern about firms' ability to develop, implement, and effectively supervise their automated systems. FINRA has stated that it will assess whether firms' testing and controls related to algorithmic trading and other automated trading strategies are adequate in light of the U. Securities and Exchange Commission and firms' supervisory obligations. This assessment may take the form of examinations and targeted investigations.

Firms will be required to address whether they conduct separate, independent, and robust pre-implementation testing of algorithms and trading systems. Also, whether the firm's legal, compliance, and operations staff are reviewing the design and development of the algorithms and trading systems for compliance with legal requirements will be investigated.