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Third of FX business done through algorithmic trading

The volume of algorithmic-based FX trading is growing and banks are marketing algos much more aggressively, according to this article by Paul Golden in Euromoney.

Algo trading has its benefits for corporate treasurers. Golden writes: “Aside from algos’ usefulness in day-to-day treasury operations, corporate customers have also identified they are potentially valuable when it comes to notable event-driven trades.”

Guy Hopkins, head of sales for MahiFX’s MFX Vector product says: "Corporates wish to minimize FX costs in the same way as other buy-side clients and are increasingly unwilling to pay a wide spread on an RFQ-type platform. Banks, and the salespeople within those institutions, are also looking for ways to differentiate themselves and a high-quality algo offering is an ideal way to do that. As a result, algos are being marketed much more aggressively."

Read more in the full article here.

CTMfile take: FX trading is fast becoming automated, which has benefits for corporate treasurers, but this article outlines some of the considerations, such as pricing and benchmarking.

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FX Management & Crypto
Buying & Selling FX

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