Algo choice: how to implement a market impact/volatility trade-off

Quantifying how macroeconomic announcements affect market reaction is key to deploying the right FX algo, writes Alexei Jiltsov of Tradefeedr


Despite the impressive array of execution algos available, users still need to specify upfront the parameters they want to use. The results can otherwise be disappointing.

Typically, an algo user will select the type – passive or active; scheduled or opportunistic; and the underlying liquidity type – and the required urgency: fast or slow. The combination of these parameters will determine the expected horizon.

But the process can also be flipped on its head. Given the expected horizon, it’s

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Outlook for e-FX: opportunities and risks for banks

As electronification spreads into new areas of FX trading, banks are under pressure to digitise more of their offerings to remain competitive. The race is now on to automate pricing, trading and hedging in areas such as non-deliverable forwards, swaps…

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