i work in the commodity sector. in the company i work with , "arbitrage strategy" aims to take advantage of unusual price differences or other imbalances.we've got statistical models, and we use fundamental as well as technical analysis. but, trades are for most part humanly-detected -assessed and -executed. another thing is that trading decisions are very often shared-decisions. i have to say that our market environment is not super fast paced. and, the consultancies i know in the commodity sector do not have any giant multi-armed wicked fast ridiculously powerful computer systems. but, some make money.