Banks nervy over GFXC plan for algo cover sheets

Disclosing inner workings of algorithms could result in loss of intellectual property, banks warn

Banks-unhappy-at-disclosing-sensitive-algo-details

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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