Industry Views
From market penetration to product evolution: Key FX algo trends to watch out for in 2023
by Nicola Tavendale One of the most encouraging take-aways from The Finance Hive Global Pulse: FX Algos & Automation Tech and Talent was the clear buyside opinion that current market provision of FX algos is of a high standard, with some 52% of firms reporting that...
Calibrating FX algo strategies: Taking a more analytical approach to achieving trading objectives
by Nicola Tavendale Client understanding of algo execution has evolved significantly, says Vittorio Nuti, Global Head FX Algos at Deutsche Bank, with clients who previously would have opted for a scheduled algo, such as a Vwap or a Twap, now increasingly preferring to take a more...
Liquidity in algorithmic FX trading: Analysing the key dynamics and strategies at play
by Nicola Tavendale Liquidity has always been a critical factor when it comes to FX algo performance, but it is even more of a differentiator now that the majority of algo providers offer a wide range of algos and related functionalities, says Carolina Trujillo, Head of...
How FX algo strategies are evolving to more accurately meet execution objectives
Buyside participants have been increasingly gravitating towards FX algos since their experience of market volatility at the start of the pandemic, which saw some liquidity providers and market makers stepping away and FX liquidity became a lot thinner, says Tan Phull, Head of Global FX Execution Trading Services at Bank...
Exploring the impact of more transparency: How far can clients go with engaging in the FX algo trading process?
Nicola Tavendale There is now a new landscape when it comes to how FX algo clients engage with algo providers, with clients increasingly showing a better understanding of how the algos work, says Ralf Donner, Head of FICC Execution Solutions at Goldman Sachs. “This translates into...
New toolsets and execution services: Adding to the power of algorithmic FX trading
by Nicola Tavendale When algos first came to market, they were supporting trading in the most liquid markets, the G10 currency pairs, as it was felt that these were the easiest markets to handle when it comes to building algos, says Asif Razaq, Global Head of...
Covid-19 crisis: FX algos prove their worth in volatile markets
When first and even second generation FX algos were introduced to the market, they were designed to follow a very rigid set of rules which meant they did not perform that well in changing market conditions, especially volatile conditions, says Asif Razaq, Global Head of FX Algo Execution at BNP...
Understanding the FX algo ‘execution trilemma’
According to the BIS report, while the overarching goal of Execution Algorithms (EAs) is to achieve optimal execution, there are several competing dimensions to this goal which will be defined differently for different users depending on their individual objective functions. It notes that although various types of EAs can accommodate...
Top tips for FX algo execution during volatile trading conditions
Among the most interesting findings from the recent BIS report into FX execution algorithms and market functioning was that it was able to take stock of the performance of algos during the market volatility seen in March. With most providers reporting a doubling of algorithmic execution during that volatile period,...
Why the algo FX trading proposition will continue to strengthen for increasing numbers of buy side firms
A recent report from Greenwich Associates, the global financial information services firm, shows that the adoption of FX execution algorithms is steadily increasing among buy-side firms. This increase is against a backdrop of plateauing electronic FX execution volumes. The report, FX Execution: Competing in a World of Algos, shows that...
Taking steps to achieve greater simplicity in the FX algo trading process
The reality for traders on an FX desk is that when given an order to trade algorithmically, they are likely to only have a relatively small amount of time in which to make a decision about which of the myriad number of algos now available to use as well as...
Clients, Products, Regions – Where will the next round of growth in algorithmic FX trading be focused?
Algo execution is intimately linked to the growth of the number of venues, says Carlos Gomez Gascon, Executive Director at JPMorgan. He adds that FX market fragmentation has made it more efficient to access overall market liquidity with the help of an algo, with fragmentation particularly high on the most...
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