Bloomberg Tradebook has launched a Hide and Sweep Algorithm for global markets. The Hide and Sweep Algorithm reaches more than 40 global exchanges and seeks to minimize information leakage by not posting orders in the market and letting users set a time limit and a fire quantity for the strategy.

The algorithm keeps the order invisible to the market while Tradebook probes markets to find liquidity. The "sweep for size" option then enables a trader to indicate the size to display before seeking to execute.

The Hide and Sweep algorithm also enables users to set a fire quantity, which enables them to seek price improvement by undersizing the amount slated for trading. It also can find hidden liquidity by oversizing the quantity to trade.

In addition, the algorithm can be modified to execute only if there is a user specified block quantity at a certain exchange.