Bank of America Merrill Lynch (BofA Merrill) has unveiled new advanced features on its global trading and consulting platform, providing buy and sell-side clients with more efficient order handling and improved fill rates for options trading. Trader Instinct®, the firm’s multi-asset global trading platform, offers a wide range of customizable trading solutions to meet client […]
A new report from Greenwich Associates, Long-Term Investors Embrace FX Algos, shows how an increased focus on best execution and the growing use of transaction cost analysis (TCA) are fueling the adoption of algorithms in foreign exchange. “As a more diverse set of market participants competes for liquidity in currency markets, longer-term FX traders are […]
A new report from Greenwich Associates has found that approximately 20% of institutional foreign exchange trading volume is now executed via algos, and FX is likely to move steadily in the direction of equity markets, in which “algos” account for more than half of trading volume. “With all of the data available demonstrating the benefits […]
The dramatic impact of the Swiss National Bank’s sudden removal of its floor on EUR/CHF in January is driving increased use of algorithmic execution tools among corporates and systematic hedge funds, according to BNP Paribas. “In the wake of January 15, many non-bank market makers pulled their liquidity and spreads have widened significantly in G-10 […]
The desire of asset managers, hedge funds and corporates to closely monitor and control their order execution is driving increased appetite for algo strategies in foreign exchange, according to Kim Simms, product manager for FX algorithms at UBS. “Many of our clients want to specify a specific set of parameters to tightly control the execution […]
State Street has recently modified its risk sharing mechanism within TruCross/FX to ensure that for the most liquid currencies, clients never get a rate outside of the published WM bid and ask rates. Moreover State Street is fully transparent on its costs. “Our fee for the TruCross most liquid currencies is half a basis point. […]
FIX Trading Community, the non-profit financial trading standards body, has extended the Trading Enablement Standard Initiative (TESI) to include foreign exchange (FX) client enablement. TESI uses FIX protocols to achieve more efficient and standardised communication for trading enablements. Last year TESI designed and implemented the FIX standard to manage the complex process of enabling clients […]
Corporate clients are becoming more demanding as their FX algo usage grows and banks are responding with innovation. “The algo market is fast-moving and we’re constantly developing new tools,” says Asif Razaq, global head of FX algo execution at BNP Paribas. “Where newcomers to FX algos might be attracted by the additional control such tools […]
