How many tasks does the average trader complete in a day? How many of those can be automated to save time? The answers to these questions vary from company to company but it’s safe enough to say ‘a lot’ in each case. This is where up and coming software solutions come in, such as Honeycomb from Algomi. News can be alarmist and some reports have suggested that technology intends to replace the human factor in trading.
From the point of view of Algomi, news like this fundamentally misunderstands the intention of the products they are bringing to the marketplace. The more tasks that are automated and the more data crunching that goes on using their specialised algorithms, the greater the liquidity in the market, sure, but there are other benefits. If much of the generic grunt work is taken up by programs like Honeycomb, traders are free to become even more specialised and devote their energy to innovative manipulation of the higher level of data perception that Algomi products provide. That’s on top of saving time – another valuable and underestimated asset that all companies could use more of.
A computer program is supportive but it cannot accurately conceive of all the nuances of risk involved in a trade. It can only track patterns that have already been conceived of because it needs to be programmed in advance to do so. A trader has the necessary creativity to find new avenues and opportunities. This power is the driving force of the future.
Where does Fintech Web News come in?
Another fuel for the creativity of traders is information. Of course, the mainstay of this is figures but the landscape is made up of more than this. Knowing what is going on in the financial world is empowering for traders and adds that extra dimension.
Fintech Web News is committed to bringing you the latest tips, information, and developments including both Algomi news and the rest of the financial world.
Fintech is a shifting and evolving industry and the developments in the marketplace can be hard to keep on top of with limited hours in the day. Fintech Web News is well placed to give you an overview that has the potential for real application in your day-to-day world.