Biko Agozino
speaker
44 appearances
1 recordings
1 series
first heard Jul 2026
last heard 10 Jul
Biko Agozino’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
Yeah, it it creates both opportunities as well as challenges.
Um there's a lot of opportunities, as Max was saying, that if you apply a systematic sort of overlay to your strategies, you're able to identify statistical arbitrage or relative value across multiple markets that typically are co integrated or stable correlation.
And so when there are moments of shock, that correlation can of course break down.
And noticing that, identifying that can drive statistical
Decisions in terms of your risk taking.
And when you're trading across many markets, many exchanges and many domiciles, all with their own potentially different regulatory frameworks.
And in commodities, we have additional concerns that we have to worry about the physical element of the commodity as well and what you're carrying in terms of a future into the physical delivery.
And so that challenge of integrating with all of those different exchanges or markets, you're
requires a systematic framework to apply on how you take risks, how you execute
Yeah, so I mean just on the sort of evolution of the asset class commodities and comparing it to some of the other asset classes that affects equities.
Commodities has actually has been just as electronic potentially as those other asset classes, as a lot of that activity is on electronic futures exchanges and futures brokers of a systematic execution, be it TWAP, VWAP style algos, in order to execute your interest.
However, we're also seeing that same
Evolution start to evolve in the OTC liquidity space for commodities.
By trading an OTC market, the participants are getting something that they may not be able to access on screen on liquid futures exchange.
But by then trading that OTC products, you're then trading directly with a counterparty who is able to minimize potentially that your market impact on that market and your information dissemination.
And so as systematic trading becomes
More prevalent in commodities, your market footprint is also just as important.
And to Max's point, it's not just your alpha, it's also how you execute that and how you minimize your market impact.
And so executing with a provider that is attempting to internalize the liquidity that allows you to minimize how much other participants can see that you're executing at that particular time, which in the long run can translate to lower.
cost which gives you a a significant edge over competition.
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