The critical importance of data quality was once again high on the agenda for a dedicated algo panel which featured at the recent TradeTech FX USA event. The panel, moderated by Michael Koegler, Managing Principal, Market Alpha Advisors, featured views from both buyside algo users and leading technology providers, many of whom highlighted the importance of data access and integration into existing client workflows as essential to the successful deployment of algo execution strategies, but still in combination with other key factors, including trader experience and unique liquidity access. Koegler adds: “Access to high-quality data and analytics in different markets was seen as extremely important when it comes to not only designing FX algos, but also in understanding when and when not to use algos. For the buyside, high-quality, low-cost data is critical for evaluating the effectiveness of algo strategies and venue performance, giving them confidence that they are achieving the best results possible. Firms are increasingly seeking ways to automate and seamlessly integrate algos into their workflows. This creates opportunities for algo providers that focus on delivering solutions to meet the needs of the buyside .”
