RT Journal Article SR Electronic T1 Algorithmic Trading JF Trading FD Institutional Investor Journals SP 14 OP 18 VO 2005 IS 1 A1 Peter Bergan A1 Colleen Devine YR 2005 UL http://guides.pm-research.com/content/2005/1/14.abstract AB In this article, Bergan and Devine consider the advantages and disadvantages that algorithmic trading offers the investment industry. The authors outline the evolution of the market, examine the effects of best execution and trade cost analysis, and assess the key ingredients for a successful modern trading desk.