Industry Views

Exploring the role of internalisation
in FX algo execution performance

Internalisation as a concept has shifted in perception among the FX community, moving from a poorly understood offering to becoming a sought after value added service,

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Service and product development: Priority lists for leading FX algo providers

Institutional traders shared their predictions for the coming year in one of the largest cross-asset surveys of its kind, the 2024 JP Morgan e-Trading Edit. Key sentiments which will be of particular interest to FX algo providers and users alike include the expectation that volatile markets will be the greatest daily trading challenge, followed closely by liquidity availability and workflow efficiency.

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What lies in the road ahead for FX algo trading in 2024?

Following three years of gathering insights from an annual Global Client Fixed Income Market Structure Survey, Barclays conducted a similar exercise with its FX clients for the first time this year. The results provide a…

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Exploiting the power of a new generation of more dynamic, customisable FX algos

One of the biggest issues with FX algorithms since their inception is how to view accurate traded volume data, particularly considering the lack of order book depth data that has been available to date, says Asif Razaq, Global Head of FX Automated Client Execution at BNP Paribas. He adds that in a bid to solve […]

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Aligning FX algo trading performance and service levels with customer expectations

The Bank for International Settlements recently released a working paper on the foreign exchange market, part of which explores the expansion of algorithmic trading. In particular, the paper charts the rise in algo use on EBS to 2022, by which time …

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Liquidity in algorithmic FX trading: Analysing the key dynamics and strategies at play

The uniquely fragmented nature of FX liquidity has arguably been a key driver behind the growth in adoption of FX algos, particularly among buyside firms. Leading FX providers are also aware of the impact good liquidity management can have on execution outcomes…

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Calibrating FX algo strategies: Taking a more analytical approach to achieving trading objectives

Despite the growing role of algos in the FX industry, recent research by Coalition Greenwich found that only 12% of corporate treasury departments are currently using them.

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From market penetration to product evolution: Key FX algo trends to watch out for in 2023

FX algo adoption among the buyside has never been higher, with recent findings from a Finance Hive Global Pulse survey indicating that some 92% of firms now say they use algos for at least some of their trades.

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How FX algo strategies are evolving to more accurately meet execution objectives

Since the surge in FX algo use during the early days of the pandemic, the
increased appetite for FX algo execution has continued seemingly unabated.

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Understanding the FX algo ‘execution trilemma’

One of the central themes in the BIS report on FX execution algorithms (EAs) and market functioning was the notion of an ‘execution trilemma’, a concept created to help FX algo users better understand that every execution strategy entails a trade-off.

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