ATP06 - Brian Fagen & Frank Troise, Lehman Brothers Inc

The Algorithmic Trading Podcast show

Summary: Brian Fagen - Frank TroiseWelcome to episode six of The Algorithmic Trading Podcast, brought to you by Voices in Business and sponsored by Sybase.nbsp;On today's show, we feature an interview with Brian Fagen and Frank Troise of Lehman Brothers Inc.Brian Fagen joined Lehman Brothers, the global investment bank, in June 2006, as Managing Director #38; Head of Electronic Sales. In this position, Mr. Fagen is responsible for leading the Firm's efforts in the electronic brokerage business. He works closely with sales product managers to deliver a platform to the Firm's clients worldwide. Additionally, Mr. Fagen is also the Head of Program Trading Sales.Frank Troise is a Managing director and the Head of US. Equities Electronic Product Management. His responsibilities include product management for the electronic trading of equities and listed options. Products supplied by Lehman Brothers in this area include: RealTick EMS, algorithmic trading, crossing and electronic liquidity tools, and the distribution of pre- and post-trade analytical tools.In this interview, Brian and Frank discussnbsp;Algorithmic Tradingnbsp;with Greg Grimer of Voices in Business and Sinan Baskan, Senior Product manager at Sybase.Show Notes for this episode:00:00 - Introduction00:55 - Brian's background01:16 - Frank's background01:42 - How the USnbsp;algo tradingnbsp;environment differs to Europe04:10 - Who are the primary users ofnbsp;algo trading strategies?04:29 - How aggressive are the hedge funds in this area?06:28 - Trading styles and the search for arbitrage opportunities07:26 - Growth in the customization of algo trading strategies11:15 - Provisioning of data around development and customization11:51 - Which customers require customized algorithms?12:23 - Management of risk on customer positions13:54 - Thin client dashboards and analytical data services15:20 - Where are the technology bottlenecks?17:54 - Extracting Alpha20:15 -nbsp;Granularity of data22:30 - Growth of data and Moore's Law23:34 - Pricing power in terms of commissions25:37 - Growth in asset classes other than equities28:45 - End of interview and wrap-upClick here for a full transcript of this episode.We welcome all feedback, so please leave a comment here on the website, call us to leave an audio commentnbsp;on +44 (0) 20 7193 1295, ornbsp;send a message to Now:To listen to the podcast right now, click on the player icon below (may require registration).