MN Investment Management reveals market first with own FX algo build

MN Investment Management (MN) has shared details of its own internally developed in-house execution algorithms which it launched earlier this year, in what it believes is a market first for the pension asset management community. “This is a new route-to-market for us with direct market access to the trading venues and a lot of our flow is now being directed there,” says Liakos Papapoulos, Senior Investment Manager, Treasury at MN. “We think this could be part of a larger trend where we will see more and more buyside going down this route to minimise transaction costs, reduce market impact, increase transparency in the whole execution process, while at the same time using the cost savings to set up a quant team as part of the desk. Those were the main reasons for us to develop and build these execution algos in-house and, looking at our TCA provided by BestX, we have already seen very good results which we’re extremely proud of.”