The adoption of algorithmic trading in China has taken another step forward after Guangfa Securities (GF Securities), a Chinese broker, has agreed to use a platform to develop algorithms provided by StreamBase, a US technology company, in partnership with Thomson Reuters.
The move comes two months after China’s largest broker, Citic Securities, bought algorithmic trading technology from Progress Software, a Nasdaq-listed company.
While much of the attention in algorithmic trading is focused on Europe and the US – where a software bug involving an algorithm used by broker Knight Capital caused chaos in equity markets last week – the use of algorithms in China has gone almost unnoticed.