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PrimusTrade - an important point on the financial map of New York!

8 Июля, 2011

Co-owners of PrimusTrade Ted Kleynerman and Boris Shekhman

Co-owners of PrimusTrade Ted Kleynerman and Boris Shekhman

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Along the tree lined blocks littered with medical offices and restaurants, resides a discreet establishment in one of Voorhies Avenue's many glass adorned office building. Primustrade LLC, a financial markets software company, has held this address for almost 10 years but it is only within the past several years that they've started working on projects that may put South Brooklyn on the map in the world of finance.

In 2002, co-owners of PrimusTrade Ted Kleynerman and Boris Shekhman, opened their business as an equities trading firm with the goal of cultivating a small but dynamic trading floor where traders could learn the art and skill of equities trading in a nurturing environment. Today however, their business has undergone a transformation that has turned this small boutique trading office into a software company focused on innovation and cutting-edge ideas for the equities markets.

Recognizing changes in the industry, Shekhman and Kleynerman decided to jump on the automated trading wave in 2007 in hopes of capitalizing on an increasingly fast paced market.

"We realized that having the ability to automate many of our trading strategies would lead to immense opportunities," says Shekhman. "What we didn't realize is that we were about to take on a behemoth of a project that would take up virtually all our time for the next 4 years."

Automated trading (also known as black box trading or systems trading) is the use of computer programs for entering trading orders with computer algorithms assisting in the variables of order timing, price, and destination. In many cases, these orders are initiated without any human intervention, relying solely on an entry condition algorithm. Such is the case with the PrimusTrade black box software.

Рабочий день в офисе компании Primustrade LLC

Over the past several years automated trading has seen a rapid growth in volume and now accounts for an overwhelming percentage of aggregated trading volume on all exchanges. With recent advancements in computer processing and data connectivity, technology has finally caught up with the markets.

Nearly all of Wall Street’s leading brokerages employ scores of developers, programmers, and mathematicians resulting in the loud and busy trading floors of yesteryear to be replaced by expensive servers and computer whizzes in cubicles. A modern era gold rush has begun in a race to develop profitable automated strategies.

"Despite the recent trend in automation, it is quite hard for the average trader to venture into the world of automated trading. Most traders interested in systems trading need to employ developers, programmers, and in many cases mathematicians and quantitative analysts. The cost to the trader is tremendous and there's no guarantee that their strategies will generate revenue," explains Kleynerman. As a result, most discretionary traders have been shut out of the automated trading arena. That is, until now.

Primustrade's primary goal was to develop a software product that made this type of trading accessible to all traders.

"We've essentially eliminated the barriers to entry for automated trading," Shekhman enthusiastically explains. "With the tools we've created, virtually anyone can sit down at a computer terminal and start making black boxes, backtesting strategies, and performing comprehensive analysis. No programming languages whatsoever are required."

Walking through Primustrade's trading floor, one can witness a dizzying array of flat-screen monitors flickering multi-colored lights as the sound of CNBC is broadcast through ceiling speakers. Kleynerman explains that after many years of running a successful discretionary trading office, the direction of their business has changed and their impressive trading floor would also undergo a radical transformation. The traders that once sat behind these walls of monitors will be replaced by black box operators and the shift from discretionary trading to automation will bring with it more opportunity and stability.

Рабочий день в офисе компании Primustrade LLC

“In training dozens of traders, I recognized that the major stumbling block for most traders is the lack of discipline and emotional balance. This is something that simply doesn’t exist in a tested automated strategy. A black box will start itself at a specified time and abide by the rules set by its operator, including risk management parameters. Greed and fear are removed from the equation,” says Kleynerman. He further explains that it is impossible for discretionary traders to multitask and simultaneously scan and trade the entire universe of stocks trading on the exchanges. A fully automated bot can, however, seek out these opportunities in real time, scanning the entire market with low latency, and trading in and out of multiple stocks without human intervention.

What started as a humble production in 2007 for Shekhman and Kleynerman has now evolved into a fully fledged suite of analytics, automated trading, and market scanning software.

“We’re excited about the future of our business,” says Shekhman, and rightly so. Giving traders the ability to finally delve into this previously exclusive form of trading in many ways levels the playing field between large Wall Street institutions and individual traders. This type of innovation can certainly take Primustrade far, but regardless of where their venture takes them, it is certainly a pleasure to know that two of our own young Brooklynites of Russian descent are making a name for themselves on the front of innovation and forward-thinking ideas.

Теги: Борис Шехман, Primustrade LLC, Тед Клейнерман, трейдинг

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