Vanguard: automation is great until it doesn’t work
Andy Maack, head of FX trading, talks about the future of trading, algos and diversity
Automation as a replacement of the manual buy-side trader is currently in focus across the industry, but, ultimately, trading desks are still in need of a human being to understand and digest what is happening, says Andy Maack, head of FX trading at Vanguard.
“Automation is great until it doesn’t work. This is when you need humans to really step in. I don’t see a complete elimination of the buy-side trader,” he says.
Maack believes combining automation with buy-side traders to make them work
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