Tradepoint to roll out fixing algo
Trading tech firm plans to introduce in-house fixing algo, captured under its ‘all you can eat’ pricing structure
Tradepoint, an FX trading technology firm, is to launch a fixing algo that replicates the WM/Reuters and Bloomberg fixing rates in a more efficient way than what it says is currently available to market participants.
The WMR and BFix prices are based on published calculations, which amount to weighted averages of their trading activity at the fixing time.
Both providers announce their fixing price at the end of the time period in which activity is weighed. Naturally, as soon as the fixing
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