London Stock Exchange Group’s FXall will extend its existing algo offering to include NDF currency pairs later this month. The move will allow customers to access liquidity providers’ existing algos for NDF trading providing them with a new execution method for trading NDFs. Audra Scharf, Head of FXall at LSEG, says that the venue has been working closely with its partner banks to bring the additional functionality to its customers.
“Buyside demand for bank LP algo execution continues to increase. Our buyside customers want to leverage the algo functionality they are already using on FXall for new products. We see this as a natural progression for FXall. We are building the capability and partnering with our LPs based on customer demand,” Scharf says. She adds that LSEG FXall expects the move will further support the evolution of NDF algos in the market and the platform also looks forward to making further product announcements later in the year.