HSBC launches NDF algo suite

HSBC has begun offering flexible algorithmic trading on a range of emerging market NDF currency pairs. The new service, called the NDFlex Algorithmic Suite, launched in July and covers the key NDF pairs of ...

HSBC launches NDF algo suite
Vivek Sarohia

HSBC has begun offering flexible algorithmic trading on a range of emerging market NDF currency pairs. The new service, called the NDFlex Algorithmic Suite, launched in July and covers the key NDF pairs of US Dollar versus IDR, INR, KRW, PHP and TWD. The NDFlex Suite offers flexible value dates so clients can execute across broken value dates in an automated fashion having selected the date at the point of order entry, as well as flexible liquidity options so clients have the ability to choose between using HSBC’s internal liquidity or external liquidity via EBS, or both. 

Vivek Sarohia, Global Head of Alternative Execution Services at HSBC says that the final, and perhaps most important feature, is that the NDF offering is available with HSBC’s full suite of algorithmic strategies. “Clients have the ability not to only trade TWAPs but, depending on their individual execution needs, they can trade NDFlex both passively via, for example, our Liquidity Seeking strategy, but also more aggressively should they choose via our Implementation Shortfall strategy,” he says.