Internalization continue to be one of the biggest themes in algo development while focusing on how to access the right pools of liquidity, both external and internal, and in the most efficient way possible, says Kataria. “Liquidity is kind of at the center of everything we do and how we access liquidity is really important,” he adds. “At Barclays, we enhance our algos to continually make optimal use of changing liquidity, using data-driven liquidity curation to use the right liquidity pools at the right times.”
Most recently, Kataria says this has meant a focus on broadening the types of liquidity available and bringing together all aspects of the business, both in terms of external liquidity and the different types of internal liquidity, to further improve algo performance for clients. “As we’re improving overall algo performance through curating liquidity, it is important to focus on the human element as well and how we can continue to streamline that customer experience,” Mesick adds. “Rather than adding new algos, we have taken the core algos that we already offer and are making sure they are fully optimized for the evolving market conditions.”
“We see investment in developing our electronic FX business as an ongoing process – it is not just one project release and we’re done. We recognize that continued investment in our algo product, and FX technology as a whole, is very important as markets evolve and as the technology evolves,” Mesick adds.
