Andy Barber Consultant at McGregor Boyall Associates Ltd
Andy Barber Consultant at McGregor Boyall Associates Ltd

FX Recruitment: staffing up for the Algo revolution

Andy Barber looks at what the latest trends in electronic trading in FX are doing to the recruitment market.

First Published: e-Forex Magazine 26 / Algorithmic FX Trading / January, 2007

Earlier this year, the Chicago Mercantile Exchange (CME) the world’s largest financial exchange recorded their largest ever daily trading volume across all products, writing 7.72 million new contracts. This figure is impressive enough. However, if we add to it the fact that they also had record electronic FX volumes of 695,927 new contracts (which represented 9% of the days total trading) or that $90 Billion in notional value was routed via their electronic trading platform, we quickly realise that these events are not coincidences but clear evidence of a market changing trend: electronic trading in the FX space is here and it isn’t going away.“Job specs these days are fully buzz word compliant: low- latency, high thru-put, real-time, mission-critical – the hyphens are endless.”Since the invention of FIX in the early 1990s, the number of daily trades recorded on the electronic trading platforms of the world’s largest exchanges has grown significantly year...continued

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