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“ We ’ ve broken a number of records recently , and clients are encouraged by our progress . GSET has broken market share records in nine out of the last 10 quarters , and the number of clients trading each week has grown 87 % over the past two years . The recognition at The TRADE ’ s Leaders in Trading 2019 awards in November makes a difference too . The investments made in the years prior were truly tested during this period , and we didn ’ t let any clients down . It has further validated our progress .”
Cornish , who also heads up EMEA quantitative services distribution in Europe at Goldman Sachs , adds that in terms of the market share gains seen in 2019 , more than half came from quantitative hedge funds .
He joined GSET around two years ago to build out the quant segment , an area where Goldman Sachs has historically underperformed compared to its peers . Similar to quantitative funds seeking direct use of GSET ’ s SOR , he says the development of Goldman Sachs ’ Algorithmic Portfolio Execution offering ( APEX ) has been another area of interest for quants .
“ Our APEX portfolio algorithm was built predominantly for asset managers and passives , but it is already being used by a number of sophisticated quant funds that are looking at it as a potential differentiator to the more traditional volume weighted average price ( VWAP ) strategy ,” Cornish says . “ It ’ s that osmosis effect of investment .
“ Another area is in the post-trade . Something that is considered essential for the systematic community is resiliency and straight through processing ( STP ). Our strategic operations platform has been built out and we now see 99.9 % STP rates , with massively hectic days
GSET IN NUMBERS
Trading volumes at GSET increased 135 %
Over the past 12 months , Goldman Sachs has provided
No . of clients trading each week on GSET
From Feb to June 2020 , GSET published
No . of sales traders at Goldman Sachs
For GSET ’ s market share gains in 2019
seeing north of 99 %. If you go back 10 years and adjust it to the volume we have today , we would have seen around 60 %. It ’ s a huge difference in our capabilities that will benefit all clients that do business with us .”
$ 300 billion
up 87 %
more than 50
up 250 %
more than half
Over the past year 60
Goldman Sachs is spending more than $ 100 million at height of volatility
in principal liquidity
over the past two years
pieces of liquidity analysis
since 2014
came from quant hedge funds
institutional and hedge funds have adopted GSET ’ s data API
on new highspeed trading platform Atlas
Coming together The GSET overhaul has not been all about investment in the platform and infrastructure . It has also focused on boosting human capital and the team behind
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