Joel Clark
Joel Clark

Optimising FX liquidity Increasing profitability with less risk

The foreign exchange market is more fragmented than ever, and participants need to harness aggregation to access the liquidity they need. Joel Clark reports.

First Published: e-Forex Magazine 76 / Liquidity Management / June, 2017

Warren Bennis, an American scholar and leadership expert, once predicted that the factory of the future would have only two employees; a man and a dog. The man will be there to feed the dog, and the dog will be there to stop the man from touching the equipment.   The observation gets to the heart of the effect automation and artificial intelligence could have on many of the traditional jobs that have been occupied by humans for generations. As machines become more intuitive in every sector, human intervention becomes not only unnecessary but potentially also destructive, rendering vast numbers of relationship-based roles obsolete. “With all the advances in technology recently, it’s easy to forget that this is a joke,” says Ian O’Flaherty, global head of institutional clients group debt e-commerce sales at Deutsche Bank.    In foreign exchange, the man-and-dog joke suggests, trading in the future will be entirely automated. Orders will be fed into machines by...continued

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