Franz Schmidpeter

Beyond the report card: analytics and FX algo adoption

May 2026 in Expert Opinions

By Franz Schmidpeter, Global Head of Buyside Sales, LMAX Exchange

For years, the conversation surrounding FX execution algorithms was dominated by workflow improvements. For the buy-side, the primary goal was operational efficiency. Trade Cost Analysis (TCA) in the beginning was just another TLA (three letter acronym). However, we have entered a new era. The market is no longer satisfied with simply flying autopilot on an order; the focus has shifted entirely to the quality of the execution and the data that proves it. As we look toward the next frontier For years, the conversation surrounding FX execution algorithms was dominated by workflow improvements. For the buy-side, the primary goal was operational efficiency. Trade Cost Analysis (TCA) in the beginning was just another TLA (three letter acronym). However, we have entered a new era. The market is no longer satisfied with simply flying autopilot on an order; the focus has shifted entirely to the quality of the execution and the data that proves it. As we look toward the next frontier

For years, the conversation surrounding FX execution algorithms was dominated by workflow improvements. For the buy-side, the primary goal was operational efficiency. Trade Cost Analysis (TCA) in the beginning was just another TLA (three letter acronym). However, we have entered a new era. The market is no longer satisfied with simply flying autopilot on an order; the focus has shifted entirely to the quality of the execution and the data that proves it. As we look toward the next frontier

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