Program Trading Averaged 67.4 Percent of NYSE Volume
Credit Suisse Securities (USA ) LLC. split its activity between its own accounts and those of its customers.
2006-03-06
Program Trading Averaged 57.0 Percent of NYSE Volume
Of the five member firms reporting the most program trading activity on the NYSE, UBS Securities, LLC. executed most of its program trading as principal for its own account.
2003-02-10
Program Trading Averaged 36.2 Percent of NYSE Volume
Of the five member firms reporting the most program trading activity on the NYSE, Morgan Stanley, UBS Warburg and Credit Suisse First Boston executed most of their program trading as principal for their own accounts.
So the only big banks doing proprietary (with their own money, in contrast to on the clients behalf) program trading at the NYSE seem to be UBS and Credit Suisse, and UBS seems to have pulled the switch as well.
Taking into account my experience from playing against bots in first person shooter games I can imagine that in short term trading it is next to impossible to compete with these programs. And that was 6-7 years ago. Just like in chess, the computer has lightning fast reaction times and makes no simple mistakes, so 99.99 % of humans loose against him. Same in Quake, if you could win against the computer, you were very good. You'd have to stay away from direct fight outs and exploit the predictability of the bot behavior and its limited learning ability.
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