In early November 2021 Samuel Leach, a London algorithmic trader, completed a seven figure deal to develop a high-performance algorithm source code for a leading European investment firm, which has today acquired the rights. The firm has also contracted Leach to amend and customise the algorithm to perform specific operational requirements, according to multiple sources familiar with the deal.
Samuel Leach of Samuel & Co Trading, a London trader based out of Watford, started his career in the private banking industry in 2013. Samuel was trading throughout his BA (Hons) degree-level studies at the University of Hertfordshire and developed early-stage algorithms whilst there. His love for trading, and non-emotional behaviour towards the markets, tied together well with algorithmic trading. Whilst Samuel was at university, he also worked at one of the UK’s leading private banks in London. After just a year within the private banking sector, he left his role to focus on his own personal trading and to become Founder and Director of Samuel & Co Trading. No one had really heard of this young hotshot trader until he started to document his trading on YouTube, discussing and giving talks about his algorithms and live streaming their trading performance on the Foreign Exchange (‘FX’) markets.
Leach has developed multiple, sophisticated algorithms. The most notable traded the fluctuations and volatility of the GBP against its peer the USD. The algorithm took advantage of price spikes within a few minute ranges, profiting from the small price increments. The algorithm would trade 24 hours a day, trading all markets from the European open to the Asian market close, capitalising around the clock whilst other traders would be sleeping. A second algorithm focused on trading the stock markets, specifically the US market, taking advantage of vast price falls and rises in the US Dow Jones Index. The algorithm rode the COVID-19 US stock market crash, and in March 2020 alone it profited a staggering 21.86%.
‘FX algorithmic trading and automated pricing have surged in the last year as traders seek the best execution and minimal market impact. Hedge funds, regional banks, central banks, global banks, and others have also attributed to the rise in ‘algo’ trading, as well as the increasing demand to trade emerging markets’ – according to Tod Van, head of Bloomberg’s FX electronic trading platform. Samuel’s algorithms became recognised more widely in 2020 when he was ranked the 7th Top Fintech Disruptor in the UK, higher than prestigious fintech firms like ClearBank, Monzo, Tide Bank and Seedrs, he has been recognised as one of Yahoo Finance’s Top Traders To Follow in 2020.
A number of hedge funds have developed Artificial Intelligence (‘AI’) operations to analyse masses of data, predict corrections in supply and demand imbalances, and forecast market movement for tactical asset allocation. Now, a growing number of firms across the spectrum are turning to AI to improve and adapt to changing market circumstances on their own, with far less human supervision and intervention. Quant managers have developed algorithms that gather and fine-tune data, then autonomously change the investment course when a new pattern is identified. Few doubt the impact that AI will have, but with the immediate impact potentially delayed due to scarcity of talent, this has put Samuel in the immediate focus of various different funds both across Europe and Asia.
Samuel Leach’s dual expertise in trading and algorithm development will ensure that he and his program development will continue to be a significant market disruptor for the foreseeable future, even if others seek to follow where Leach is leading.
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