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Bond traders this career will disappear? Sina fund exposure platform: letter Phi lags behind false propaganda, long-term performance is lower than similar products, how to buy funds pit? Click [I want to complain], Sina help you expose them! Source: British "Financial Times" Author: Robin Wigglesworth Eric Platt New York reported the translator: He Li of the Wall Street investment bank to launch a computer program that allows investors to U.S. corporate bonds in the $8 trillion and 400 billion market for trading without electricity caused by the bank’s staff. In recent weeks, fund managers and traders have received the "GoldmanSachsAlgorithm" automatically issued a message to provide the price of high Rating firm bonds can be traded. The program has been quietly operating some of the trading system in Goldman Sachs for about a year, just last month, one of the largest platform in Wall Street, Bloomberg (Bloomberg) launched, it attracted outside attention. The attempt to expand the use of the program is part of the electronic revolution, which is increasingly pushing out the last few markets in the face of pressure from the banks. Because of its size – base includes more than 7000 kinds of high-quality U.S. corporate debt securities, each of which contains documents — corporate bond market a large number of previously considered to be too large and complex, can not be left to the computer, realize the automation of transaction. Now, buying and selling stocks and U.S. government bonds almost completely realized and transparent, but the two bonds in the same company for sale may contain a variety of different risk degree (which they scale, based on time and not as like a stock swap). Corporate bond trading is still largely dependent on voice trading or instant messaging to determine prices. Although this system is only applicable to Goldman’s so-called "sporadic trading" — that turnover is less than $1 million — but its expanded use occurred in the investment bank under pressure, they require in the once lucrative bond trading department to cut costs in the background. The regulations introduced after the financial crisis have also reduced the attractiveness of banks as intermediaries among investors. The price list and other Bloomberg platforms (given only an indicative price, need to confirm to a bank, Goldman) the price in the program can be executed immediately. According to some fund managers, Goldman said the price offered by the algorithm is dynamic and responsive to other transactions and market conditions. According to one fund manager, Goldman said it would provide $75 million to $100 million a day to trade, a move that would allow Goldman traders and salespeople to focus on higher margin transactions. Goldman declined to comment. Enter the Sina financial stocks] discussion相关的主题文章: