Goldman Sachs launches first NDF algo

Goldman Sachs has launched a smart algo for NDF pairs, initially focusing on the two most liquid Asia markets of USD/INR and USD/KRW.

Goldman Sachs launches first NDF algo
Ralf Donner

Goldman Sachs has launched a smart algo for NDF pairs, initially focusing on the two most liquid Asia markets of USD/INR and USD/KRW. 

“There is significant demand for greater choice of execution capabilities for NDF pairs and we are seeing a lot of focus on this new product, particularly from Asia,” says Ralf Donner, executive director and global head of FX Client Algo Execution at Goldman Sachs.  “Asia will be our particular focus because the demand is there, but it also has global applications and there are also plenty of opportunities around the world for this kind of execution. We expect this to be a milestone project for us this year.”  The bank’s new product follows last year’s addition of FX algo products for options trading.