A recent poll of FX traders by JP Morgan found that whilst only 12% of traders stated they currently used algorithms to trade that figure looks set to increase three fold in 2017 with 38% of traders indicating they were planning to implement the use of algo’s to trade in 2017.
The poll of 200 institutional traders also showed that the use of Algo’s is set to double across trading of options and swaps showing that whilst currently only 16% used Algo’s to trade Swaps 30% submitted that they intend to in 2017. Similarly 17% of Option traders currently employ Algo’s with the poll indicting that this is set to increase to 39% over the next year.
The Poll also underlined the positivity felt across the FX market with 64% of respondents responding that they saw no major issues facing traders.
The Poll can be found Here: FX E-TRADING TRENDS IN 2017