GFXC discusses increasing use of FX algo execution

The rise of the algorithmic execution in the FX market was among the key topics discussed at the latest meeting of the Global Foreign Exchange Committee (GFXC). Held in Tokyo, this was also the final meeting to of outgoing chair Simon Potter, head of the Markets Group at the Federal Reserve Bank of New York.

GFXC discusses increasing use of FX algo execution

The rise of the algorithmic execution in the FX market was among the key topics discussed at the latest meeting of the Global Foreign Exchange Committee (GFXC). Held in Tokyo, this was also the final meeting to of outgoing chair Simon Potter, head of the Markets Group at the Federal Reserve Bank of New York.

According to the meeting’s minutes, the Committee explored recent developments and trends in the FX market including the “increasing use of algorithmic execution in FX and what that meant for the structure of the market and governance structures”. Representatives from each GFXC member provided an update on recent activities, with FX algo execution said to be a topic of discussion in some regions.