Algorithms Offered & Their Execution Styles
Names of key fx algo strategies:
XTX Implementation Shortfall: Passive liquidity seeking algorithm, minimising overall slippage to arrival price.
Pegged: Order price pegged to bid/mid/offer with/without an offset and a rate of peg refresh determined by the client.
TWAP: Time weighted average price strategy that splits the order into evenly sized slices executed for a specified duration or over a set time window with a guaranteed fill; Optimal TWAP allows clients to execute without specifying any slicing parameters as the algo automatically generates the slice schedule and sizes based on the algorithm's duration and order size.
VWAP: Volume weighted average price strategy that splits the order into slices determined by a weighted distribution of historical market volume executed for a specified duration or over a set time window with a guaranteed fill.
Limit Order: Limit order execution.
TD offers a wide suite of passive algorithmic strategies aimed at reducing market impact and information leakage.
TWAP and VWAP strategies tap TD Securities' deep liquidity pool, offering a guaranteed fill over the specified duration.
TD Securities has an exclusive credit intermediary relationship with Curex which enables access to Curex's suite of passive algorithmic strategies as well as their passive, no last look, top of book execution liquidity pool.
TD Securities' partnership with XTX also enables us to offer the XTX Implementation Shortfall algorithm to clients and enable them to face TD Securities rather than face XTX directly.
Also available:
Customisation available
Supported currency pairs:
All G10 and wide range of deliverable EM currencies.
