Algorithmic execution
Why central banks aren’t worried about FX algos – for now
Disclosure failings have been fed into review of FX code; other risks are profound, but distant, says Andrea Maechler
Asia’s FX markets step to the algorithm
Buy-side use of automated trading programs builds, albeit from a low base
Unleashing the potential of NDFs
Trading in non-deliverable forwards is on a roll, despite concerns over liquidity
Algos make market thinner, but not less liquid – BIS
Trading robots change market microstructure, central banks conclude; new liquidity metrics may be needed
NDFs: how algos can make sense of the fragments
The scattering of liquidity in non-deliverable forwards calls for new execution tools, argue HSBC execs
Forward momentum: the new world of NDF trading
NDF landscape is changing as trading volumes drive electronification and algo execution – but challenges remain
How Shell integrated FX algos into its corporate treasury mix
Interview: oil giant puts up to 50% of spot flows through algos, explains FX head Michael Dawson
Barclays targets internalisation with new NDF algos
UK bank’s five algos aim to match-off more flow than G10 pairs
MUFG: Covid response could spur e-FX shift in Japan
FX head says operational agility during pandemic could lead to greater electronification
Navigating uncharted markets with FX algos
BNP Paribas's Asif Razaq describes traversing Covid-troubled waters with execution algorithms
BLTs and glitchy Wi-Fi: lockdown life for FX execs
With traders transacting trillions from their living rooms, currency markets are adapting to new normal
Assessing execution quality and slippage in volatile times
Market participants must focus on how their evaluated execution costs vary in different market regimes, writes Tradefeedr’s Alexei Jiltsov
How Goldman’s algos adapted to virus vol
Interview: Ralf Donner explains why algo usage is up while markets are down
Algo choice: how to implement a market impact/volatility trade-off
Quantifying how macroeconomic announcements affect market reaction is key to deploying the right FX algo, writes Alexei Jiltsov of Tradefeedr
In choppy FX markets, algos buck expectations
Goldman, Nomura and others report increased volumes, although some clients revert to principal quotes
Beyond Barx: where Barclays is going next in tech ‘arms race’
Interview: Mauricio Sada-Paz on SDPs, MDPs and innovation in e-FX
E-trading takes hold for FX swaps – sort of
Bulk of trades are being executed over screen, but bolder changes have stalled
Treasurers turn to AI in bid for sharper forecasting
Wider automation could usher in future of 'hands-free-hedging', but obstacles lurk in data standards and sharing
Who killed FX volatility?
Beyond central bank policy, traders see a range of hidden structural factors at work
Algos: choosing the right horse for the right course
Liquidity and volatility regimes play big role in performance, BestX quants show
Vanguard takes the P2P plunge
Interview: Andy Maack seeks to lower costs and dealer dependence via buy-side matching
Rise of the algo wheel
How the buy side is embracing algorithm wheels and where challenges still remain
Citadel Securities: more TCA in 2020 to expose liquidity recycling
TCA should show difference between providers who hold risk and recyclers of liquidity, says market-maker
Refinitiv: innovation in 2020 will be evolutionary, not revolutionary
Firms will focus on ongoing projects before embarking on market-changing initiatives