Automated Futures
Margin-efficient, deeply liquid in the hours that matter, and home to the oldest systematic strategies still running at scale. This is where automated trading has the strongest multi-decade evidence — and the most honest record of how long its flat periods last.
Roll Yield: Getting Paid by the Shape of the Curve
A futures position earns or loses simply by moving through time, independent of the price of the underlying.
The Overnight Gap and the Fundamental Exception
Most index-futures gaps fill during the session. The ones that do not are the ones that matter.
Margin Efficiency: The Quiet Advantage of the Futures Market
For the same exposure, futures typically tie up far less capital than the cash equivalent. Idle capital has a return.
Calendar Spreads: Trading the Curve Instead of the Price
Long one expiry, short another. The directional risk mostly cancels and what remains is the relationship.
Liquidity by the Hour: Where Futures Execution Costs Live
The regular session and the overnight session are different markets wearing the same ticker.
Trend Following: The Most Automated Strategy, and Its Real Track Record
Managed futures is the oldest systematic strategy at scale. Its long-run record is instructive in both directions.