Deutsche Bank Makes TargetClose Algo Available in the US
TargetClose, an algorithm offered by Deutsche Bank's Autobahn Equity business that seeks to match closing prices on the date of the trade, is now available in US markets. TargetClose was originally launched in Europe in 2008.
Designed to project each day's closing volume based on real-time and historical market data, the algorithm continuously adapts to market conditions in order to minimize the trade's deviation from the closing price on the date of the trade. It takes advantage of low latency models and participates in dark pools to improve performance.
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