Citadel Securities: algo trading to rise, buy side seeks broader liquidity provision

As TCA metrics highlight the benefits of non-bank liquidity provision, Citadel Securities expects more participants will be drawn to its offering

kevin kimmel citadel securities
Kevin Kimmel: bifurcation between banks following a principal market-making model and those following an agency model will increase in 2019

As the drive to achieve best execution gathers pace, the take-up of algorithmic trading by the buy side is set to increase throughout 2019, says Kevin Kimmel, global head of e-FX at Citadel Securities.

Kimmel expects an increasing number of buy-side market participants to seek access to agency or hybrid algos, as they pursue additional sources of liquidity beyond that provided by a single bank’s principal price.

“Banks will need to differentiate their offerings as algo competition heats up

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