Richard Willsher
Richard Willsher

FX under the Corona lockdown - E platforms and algos come into their own

Richard Willsher investigates how electronic FX markets are performing as the global corona crisis deepens

With dealing room staffing around the world pared back to a bare minimum, remote access to e-platforms and market sensitive algorithmic trading strategies are proving the resilience of the FX market. Alaa Saeed “Thus far our proprietary platforms such as Citi Velocity have proven yet again to be resilient, and have been available to our clients without interruption throughout these challenging markets.” A perfect storm of market impacting events has played out. The March declaration of the COVID 19 pandemic; Government monetary and fiscal stimuli; the Russian / Saudi Arabia oil spat while demand nose-dived; sell-offs across most asset classes; the deluge of speculation, diverging news and analysis of every aspect of the coronavirus – all of these have sent tremors through the market to a greater or lesser degree.  Meanwhile the market has been busy. Data from settlement service CLS graphs market activity. “The high average daily traded volumes observed at the...continued

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