The event has firmly established itself as the leading buy side focused FX gathering in the US, with over 600 FX professionals taking part including representation from all the leading global buy side firms.
Increased FX algo uptake
A poll was taken at the event sessions during the conference which found that 25% of attendees FX execution is now conducted using FX Algos. That was in comparison to some 8% who use voice and 67% who use request for stream (RFS).
Prior to the event the organisers also conducted a survey in Q3 2019 in which 100 heads of trading, heads of FX and those of an equal standing from firms across the US and Europe were questioned about the challenges their FX desks are facing and the innovative solutions they’re bringing to the table.
The results of this survey were then discussed at TradeTech FX. The report revealed that 18% of the buyside trading desks surveyed said that their biggest business goal in the next 12 months, aside from best execution, was implementing new algo capabilities.
The report, Overcoming Challenges in the Current FX Landscape, included comments from Refinitiv, T.Rowe Price and Fincisive in addition to TradeTech FX USA. “In recent years the FX trading desk has become digitalised as old, manual processes have become automated through innovative technology. In particular, digital FX trading platforms have become increasingly widespread across buy-side firms. These include, algorithmic trading, electronic communication networks ECNs, AI, machine learning and distributed ledger technology (DLT) of which Blockchain is one of the most popular forms,” the report said.
Read the findings in full here: