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FX Technology: The Trend is Clear
Just as technology continues to become more ubiquitous in our day-to-day lives, so too is it becoming more prominent within treasury departments, especially when it comes to FX trading and workflows. This has only been accelerated by the pandemic which, by forcing companies to operate with their staff in a decentralised environment, created a unique situation in which many cases required an increased adoption of FX trading technology in order to maintain regular functionality.
This article was originally published by the Association of Corporate Treasurers of Southern Africa (ACTSA) on www.actsa.org.za in partnership with Treasury Management International (TMI). It is reproduced here with their permission.
Best liquidity aggregation services; Best new venue initiative; Best venue for forwards/swaps
360T‘s efforts to reduce fragmentation and increase transparency in FX markets, and its launch of a non-deliverable forward (NDF) streaming service to improve how NDF prices are delivered, has earned it three awards at the FX Markets e-FX Awards 2021.
Arguably one of the most consistent trends within the FX industry in recent years has been the growing adoption of execution algos amongst market participants. By Brendon Bigelli, EMEA Spot & Algo Specialist at 360T
What are the key factors likely to move currency markets between now and the end of the year and, perhaps more importantly, what risks aren’t currently being priced into the mark…
These are amongst the questions addressed by Axel Merk from Merk Investments in our latest episode. Merk also discusses the FX liquidity trends, how diverging interest rates could help certain trading strategies and what recent events in China mean for global financial markets.
Asif Razaq, Global Head of FX Algo Execution at BNP Paribas
In this episode Asif Razaq from BNP Paribas talks about why the pandemic has driven an uptick in the number of firms using execution algos for their FX trades and traces the evolut…
ion of these tools from basic, rules-based strategies to sophisticated and interactive ones which effectively enable human traders to augment their own skills.
Razaq also delivers his view on what will come next in the FX algo space, arguing that we are likely to begin seeing these tools deployed across a broader range of instrument types.
Stuart Simmons, Director and Head of Currency at QIC, argues in the latest episode that not only is the London 4pm Fix not a good time to trade FX on behalf of investors, but that …
in fact it might be the very worst time to do so. Expanding on this, he claims that order flow imbalance lead to herd behaviour amongst investment managers trading at the Fix that in turn causes market impact which negatively impacts execution outcomes. On top of this, Simmons makes the case that the interests of investors are misaligned with both asset managers and their counterparty banks when it comes to using the 4pm Fix as a benchmark.