You launched the DynamicX algo earlier this year. What was the motivation to build this strategy? The motivation was client demand, both specifically from our clients as well as the continuing trend of the liquidity seeker algos taking the biggest share of the algo volume. It is a strategy we have had in mind for […]
Please tell us more about the thinking behind State Street’s ‘algo of algos’ and the key drivers behind the build? Our clients drive our innovation. Our ‘algo of algos’ solution, or Staged Order, is a direct response to clients who want to manage their larger FX algo orders actively and with more flexibility. This includes […]
BNY Mellon is expanding its Custody FX offering, adding new trading capabilities and pivoting from a primarily custody-focused service model into a transparent open architecture that can be leveraged by a variety of client types for their rules-based, end-to-end transaction needs. BNY Mellon’s suite of new enhancements delivers more autonomy for users to transact in […]
Since Credit Suisse executed the first Peer-to-Peer algo trades on Siege FX in February, the platform has seen strong growth this year in terms of client numbers and activity. Siege has also completed integration with two other leading FX algo providers and is onboarding others. Claude Goulet, CEO at Siege FX, says that for buy-side […]
What are the current trends you are seeing in the development of new FX algo strategies and related toolsets? Mauricio Sada-Paz: Recent innovations in the algo space are mainly focused on improved access to liquidity. At BofA, this includes both enhancements to internal liquidity, as well as accessing new external matching/netting venues. Specifically, we are […]
Why do FX traders need to measure the density of their algo trades? Signalling risk – or information leakage – is a problem for FX traders, particularly in markets where liquidity is reduced. If firms can identify when trading volumes are at their highest, they can choose to execute trades at those times and then […]
Cboe FX Markets has announced the launch of a hosted algorithmic execution service in collaboration with electronic liquidity provider XTX Markets. This service will help enable Cboe FX participants to access the XTX Markets Execution Algo (‘XTX Algo’), which is designed to alleviate implementation shortfall, via the Cboe FX ECN. Cboe FX has been granted […]
Please tell us about your new product Citi Velocity Dynamic Algos. Citi Velocity Dynamic Algos have been engineered from the ground up as part of our algorithmic suite replatforming initiative. The algos are based on a combination of our experience in research and advanced quantitative techniques together with our next generation market making technology. We […]
One of the major trends within the FX industry in recent years has been the inexorable rise of algorithmic trading. Once only the provenance of the most sophisticated market participants that were able to direct sizable resources towards developing these products, we’ve now seen FX algos become widely available and the adoption of them as […]
What are the unique features of your existing FX algo suite? Since the beginning we have offered three algos: a Peg, an Aggressive Watch and a Twap. One of our key features is our internal matching, where we use exchange technology derived from equities so that algos can match our internal position based on our […]
