Vivek Shankar

Exploring how algos are becoming increasingly central to FX trade workflows

June 2023 in Buyside Perspectives

Buy-side algo usage in FX has steadily risen over the past decade. Algos were once the domain of only the most sophisticated market participants with enough resources to devote to development and research. These days buy-side participants of all sizes have taken to algos, and their businesses are changing as a result.

Algo sophistication is a major reason for this shift. Gordon Noonan, Head of FX Trading at Schroders notes that the algo space has evolved considerably over the past decade. “Algorithms have moved from rudimentary TWAP orders to more intuitive strategies designed to adapt to prevailing market conditions,” he says. “We have worked closely with bank algo developers over the years to understand how algos operate in the FX market, the logic each algo utilizes, and what venues they access. Our Algo sophistication is a major reason for this shift. Gordon Noonan, Head of FX Trading at Schroders notes that the algo space has evolved considerably over the past decade. “Algorithms have moved from rudimentary TWAP orders to more intuitive strategies designed to adapt to prevailing market conditions,” he says. “We have worked closely with bank algo developers over the years to understand how algos operate in the FX market, the logic each algo utilizes, and what venues they access. Our

Algo sophistication is a major reason for this shift. Gordon Noonan, Head of FX Trading at Schroders notes that the algo space has evolved considerably over the past decade. “Algorithms have moved from rudimentary TWAP orders to more intuitive strategies designed to adapt to prevailing market conditions,” he says. “We have worked closely with bank algo developers over the years to understand how algos operate in the FX market, the logic each algo utilizes, and what venues they access. Our

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