The Global Foreign Exchange Committee (GFXC) which met in Sydney last December established five areas of focus for updating the FX Global Code including algo execution and transaction cost analysis (TCA). The GFXC agreed that the increasing usage of algorithmic execution warranted a review of the Code’s existing guidance in this area. It was also […]
BidFX, a Trading Screen company, has continued to grow its FX algo offering with RBC Capital Markets recently becoming the latest provider to add its algo suite to the BidFX EMS. The RBC algo suite is available to all RBC clients and has seen large demand from institutional clients on the platform. As BidFX has […]
Despite the rapid uptake of algorithmic trading and execution within all cash-centric capital markets globally since 2010, wide-ranging use of transparent, unbiased transaction cost analysis (TCA) services and software applications within electronic cash FX trading specifically remains problematic for buyside firm currencies liquidity consumers and sellside institution currencies liquidity providers. For sellside cash FX execution franchises, the role of TCA offerings as a complement to algo execution service offerings in terms of its ability to enhance the broker / client relationship remains greatly important from both a strategic service offering and technology investment budget perspective.
“Is it us?” or “Did we do that?” are questions often asked when a flash crash or strange market event occurs. The answer, for me and most others, has always been “no”, although we often see algos initially mentioned as a likely cause for these types of market events. Perhaps it is easy to blame an algo when no obvious answer is available?
