Goldman Sachs goes live with smart NDF algo
Initial trades have already taken place with the algo, which draws on internal and external liquidity
Goldman Sachs has introduced what it believes is the first “smart” algo for trading non-deliverable forwards (NDFs), as it eyes growth in liquidity on external markets and a pickup in interest in the instrument.
The first trades have already taken place with the NDF dynamic hybrid algos, built drawing on Goldman Sachs’s experience with its existing algos for deliverable currencies. Like those products, the new NDF algo can pull from the bank’s internal liquidity – its matching pool and e-book
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