NEWS UPDATE
SELL-SIDE
RBC Capital Markets launches second algorithm on AI-based electronic trading platform
The new algorithm uses machine learning to continuously assess market information in real-time , building on the success of the platform ’ s first VWAP algo , launched in 2020 .
RBC Capital Markets has launched a second algorithm on Aiden , its proprietary AI-based electronic trading platform , designed to help measurably improve trading results . The new algo , Aiden Arrival , builds on the success of the platform ’ s first solution , a volumeweighted average price ( VWAP ) algorithm aiming to reduce price slippage and offer an expanded action set to improve clients ’ trading performance .
The electronic trading platform , first launched in October 2020 , uses deep reinforcement learning processes to adapt to changing market environments and improve trading results based on live market data . It was developed over five years by traders and AI scientists at RBC and Borealis AI , a research and development centre created by RBC which opened its Toronto lab in June 2017 .
CRYPTO
ICE takes $ 1.1 billion write off for stake in crypto platform Bakkt
The exchange expects to reduce the carrying value of its investment in Bakkt to $ 400 million from $ 1.5 billion earlier in 2022 .
According to a Securities and Exchange
Commission ( SEC ) filing in October , Intercontinental Exchange ( ICE ) took a $ 1.1 billion write off for its holdings of Atlanta-based crypto platform , Bakkt .
The crypto and digital assets provider to institutional investors confirmed it would be recording an impairment loss on goodwill amounting to approximately $ 1.3-1.4 billion , in addition to certain indefinite-lived intangible assets between $ 150-160 million .
Originally formed in 2018 by ICE , Bakkt ’ s first use cases for its platform were bitcoin , other cryptocurrencies and bitcoin futures contracts .
8 // TheTRADE // Q4 2022