Quantitative Brokers Opens UK Office
Hires Senior Hedge Fund Professional
Quantitative Brokers (“QB”), a best execution algorithmic broker for interest rates, has hired Jonathan (“Jonty”) Field, a seasoned hedge fund professional, to head its EMEA business. The appointment and establishment of a London office follows a record year for QB, with a 400% increase in buy-side agency trading activity fuelled by increasing demand for superior execution quality.
Field, 35, joins QB from leading European hedge fund, AHL, where he led the Trading Analytics team. He has spent the last decade developing algorithmic execution strategies, including the tools to monitor and systematically benchmark execution performance.
“The appointment of Jonty Field to head up our presence in the region reflects QB’s commitment to meeting the intensifying European buy-side interest in best execution for interest rates,” said Christian Hauff, CEO of Quantitative Brokers. “Optimal trade execution and reducing slippage is no longer the preserve of the equities markets and this mindset will continue to spread rapidly across the global interest rate and futures markets in the months and years ahead.”
Hauff and his partner, mathematician Robert Almgren founded QB in 2008. Since then, the firm has grown rapidly to become a leading provider of agency algos to the buy-side. To date, QB has provided best execution agency algorithms for interest rate futures, including the innovation of the industry’s first, FIX accessible multi-leg algorithm, LEGGER, which supports inter-commodity execution. QB has plans to enter the cash fixed income market in 2014.
“It’s exciting to be joining Quantitative Brokers at this stage of rapid market evolution,” said Field. “Delivering best execution is central to my experience. As a result, QB’s unwavering drive to understand the nuances of market behavior and to anticipate execution demands provides a fantastic opportunity. Judging by the pedigree of the current client list, I’m not alone in realizing this.”
QB provides four agency algorithmic strategies: Bolt, which aims to beat the “arrival price” i.e. bid-offer midpoint at the start of the order; Strobe, which uses model-generated tolerances to optimize volume-weighted average price (VWAP) and time-weighted average price (TWAP) performance; Roll, specifically designed for executing calendar spreads; and Legger, an inter-commodity multi-leg algo for arbitrary number of legs and size ratios.