Banks nervy over GFXC plan for algo cover sheets
Disclosing inner workings of algorithms could result in loss of intellectual property, banks warn
Banks are pushing back against proposals by the Global Foreign Exchange Committee that might require them to publish “sensitive” details of how their FX trading algorithms work.
The GFXC, a pan-industry body tasked with overseeing foreign exchange markets, is readying plans for standardised ‘cover sheets’ that would help investors make better-informed choices when renting algos.
But some banks say that releasing information on the inner workings of their automated trading programmes may lead
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