FX probe fails to spark algo execution surge
Client demand for algo execution more a "trickle" than a rush
Demand for executing benchmark orders with the use of algorithms has failed to pick up significantly in recent months, contrary to reports suggesting the global investigation into the WM/Reuters benchmark has spurred a broad-based move towards agency execution for these orders, market participants say.
Since the start of the probe into foreign exchange markets last October, anecdotal evidence has suggested a drop of volumes around the 4pm London fix, the focus of the regulatory investigations
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