Which, When and Why taking a more informed approach to algorithmic FX trading

William Essex sets out to explore why choosing the most appropriate FX algorithm for their own specific needs can sometimes be a complex undertaking for many buyside firms who may be new to the benefits and applications of using algorithms.

First Published: e-Forex Magazine 57 / Algorithmic FX Trading / July 2014

What is it about FX algorithms? You wait millennia for somebody to automate the global foreign-exchange market, and then all of a sudden you get dozens of smart, intelligent, intuitive, even educative FX-algo solutions all coming along at once. Yes, it took a near-terminal global financial meltdown coupled with a large-scale exodus of talent from equity desks to get the development work really moving, but now we’re very, very well supplied with FX algorithms for pretty much every occasion.­­This is good, right? Algo trading and execution effectively breed sophistication: smart-order routing, data management, the elimination of latency – all part of the same ongoing development process and all contributing to efficiencies within markets, albeit not quite efficient markets (yet?). There’s also regulation: FX algos and their enabling technologies give us transparency and a clear TCA trail. Peter Bondesen, Sales Manager EMEA, FlexTrade UK, says: “With the TCA reports that can be...continued

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