Nordea uses algorithms for FX trading

First Published: e-Forex Magazine 33 / News / October, 2008

Thomas Vinding The Nordic bank began taking real positions based on the first models built in-house at the beginning of this year. The models are based on a series of data sets, including tick data. It is expected that the coming, more advanced models will encapsulate the bank’s proprietary trading data. This includes customer transactions, real-time data on the bank’s own trades and those lost to competitors. Real-time input on strike levels on options traded with customers and data from the bank’s limit order book will also be used. The models are developed by quants in close cooperation with the trading desk and with the algo infrastructure developers all located in Copenhagen. - We believe that we have a competitive edge in the Nordic currencies as well as the Baltic and the Polish currencies since we possess more information than the average algorithmic trader, says Thomas Vinding, co-head of e-Markets at Nordea. ...continued

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