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Corporates migration to FX algos and to Single Dealer Platforms will continue

Greenwich Associates’ report is based on interviews with 1,584 “top-tier, buy-side foreign-exchange users around the world”, of whom 56% represent financial firms and 42% represent corporates (2% “other”) showed that:

  • algorithmic trading of FX continues to grow amongst buyside firms
  • algo-enabled hedge funds traded 53% of their FX volume using algorithms in 2013, and the overall figure for institutional algo usage is projected to grow by 64% year-on-year to end-2014
  • in a move partly attributable to their increasing use of FX algos, hedge funds have moved significant proportions of their volume to single-dealer platforms.
  • regulatory complexity is another significant driver for change.

(Also see: Does CitiFX Pulse single dealer platform remove need for multi-dealer platforms? | C&TM File)

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