Is Quantopian The Next Bloomberg?
forbes.com
forbes.com
also, Bloomberg is in completely different business.
if somebody really wants to work on replacing Bloomberg let me know. this is a huge market, which nobody is working on AFAIK (=~Angellist).
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Traders need to keep their algo close to themselves. What you can offer is not testing their algo on your platform, but separating the their critical algo from the commodity data mining then offer the latter. The latter is what most traders don't have and you can add value. The ability of separating the algo, might just be your competitive edge.
> Now, 5% of asset managers are algorithmic traders. In a decade, 50% to 70% of asset managers will use trading algorithms.”
It may be true that if you include all mutual and pension funds that only 5% have their own algos, and even that seems very low, its important to note that these funds trade through other brokers like Goldman and Knight capital.
I'd guess that vast majority( > 90%) of trade that they do are done algorithmically whether on a simple VWAP or a more complex "work it" style algos.
Maybe the author meant alpha seeking algos rather than basic order allocation algos?
As a concept it can take off for sure, but not sure the Bloomberg comparison is fully accurate.
In the algo trading field, nobody can beat HF. In the alpha seeking field, it takes much more than trading algo, or a single algo. Complete computerization is not impossible but definitely a very hard problem.
In term of creating a Bloomberg competing model, I'll not entirely build it on algo based. There are numerous cheap highly educated labor out there in the world, outsource it, fill in the gap where data mining is still not good at. Only then, Quantopian will become a sound Bloomberg conteder.