The Last Bastion Of Human Trading Has Surrendered To Our Robot Overlords

One of the last human points of resistance to the algorithmic take-over of professional trading can be found in the fixed-income trading desk. The deft relationship business is known for having participants with Ivy League pedigrees and a lacrosse playing background, a data point that a machine learning algorithm recently used when making hiring recommendations.

Q3 hedge fund letters, conference, scoops etc

With an algorithmic transition, profit margins are being squeezed as human relationships are becoming less important. Benchmarking the transition are new hiring mandates at some of the largest banks, a recent Greenwich Associates report pointed out. Relationships and fundamental market understanding are less important, the report noted, and algorithmic experience and data science...