Buy side seeks greater control of algos

Users of FX algorithmic execution tools are increasingly looking for greater control and customisation so that they can tap liquidity from multiple sources in the most efficient way, says Jessica Brown, vice president in sales at FlexTrade Systems.

Buy side seeks greater control of algos
Jessica Brown

Users of FX algorithmic execution tools are increasingly looking for greater control and customisation so that they can tap liquidity from multiple sources in the most efficient way, says Jessica Brown, vice president in sales at FlexTrade Systems.
“FX is a very electronic and fragmented market with tight spreads, so people are constantly trying to come up with new strategies and route to the best available destination to make money and achieve best execution. Providers of algo strategies need to have the flexibility to deliver customized solutions,” says Brown. While a small number of buy-side firms might have the quantitative skills to be able to write algos themselves, the vast majority would rely on a bank or technology provider to deliver customized toolsets.