Goldman Sachs Electronic Trading (GSET) announced today the expansion of its algorithmic suite in Brazil. The algorithm expansion is part of a larger, firm-wide focus on Brazil in response to growing demand from its institutional client base.
“Investor interest in Brazilian markets and the appetite for sophisticated trading tools has increased rapidly in recent years,” said Todd Lopez, managing director and co-head of Americas Sales, GSET. “With the addition of more opportunistic liquidity-seeking algorithms, we are helping our clients in Brazil get the execution quality they expect from Goldman Sachs.”
By tailoring the algorithmic offering to the intricacies of the unique Brazilian market structure, Goldman Sachs aims to give institutional clients better and smarter execution tools. Sonar™ is GSET’s global flagship liquidity-seeking algorithm, which attempts to strategically source liquidity while mitigating adverse selection. Additional algorithms available to Brazil clients include Scaling, which tracks a dynamic percentage of composite market volume based on changes in stock price, and GSET 1CLICK®, which provides a single point of access to a range of GSET strategies, streamlining the execution process.
”We have been building out our overall platform in Brazil for the last three years and our clients now have access to the full range of products available in other major market centers,” said Bruno Carvalho, managing director and head of Futures and Electronic Trading for Latin America, Goldman Sachs.
With the addition of these algorithms, GSET now offers a full suite of algorithms in Brazil, including VWAP, TWAP, Participate and Custom Navigator, which aim to reduce market impact, maximize execution quality and improve trading performance based on the specifics of each market. In addition to Brazil, GSET offers its algorithms globally across the United States, Canada, Latin America, Europe and Asia.
GSET’s algorithms in Brazil are offered through its affiliate broker, Goldman Sachs Do Brasil Corretora De Titulos E Valores Mobiliarios S/A.