Quantitative Brokers: A New Era in Quantitative Execution

“Market states are different outside regular trading hours. Trading the S&P 500 Futures at night requires different parameters and values, and limit order placements need to be adjusted accordingly,” says Almgren. “Market states can vary seasonally and there are special event related states intraday, such as when economic data, like inflation or non-farm payrolls, is released”, says Head of Research, Shankar Narayanan.