Nordea is further expanding its FX algorithmic offering by launching its six algos on FXall. The move follows the introduction of the bank’s FX algo suite on Bloomberg in October, with successful orders having since been executed in all Nordic countries.
Antti Ranta, Global Head of FX Sales at Nordea, says that the response from clients has been truly positive. “As the top criteria in algorithmic trading is the proven execution quality of algorithms, we have been testing our algos for an extensive period of time and have partnered with the best players in the industry,” he explains, adding that FX algos are often seen as a mysterious way of executing larger FX deals for selected customers. Nordea wants to change this perception by being completely open with its offering, says Ranta. “Our goal is to share knowledge with our clients on algorithmic trading and on our six FX algo strategies in such a manner that customers will have full confidence when deciding which algo to go for - as they should,” he concludes.