Refinitiv FXall Witnesses Boom in Algo Trading

Adoption of execution algorithms by buy-side traders on Refinitiv’s FXall platform increased 41% year-over-year in the second quarter of 2019, following continued investment by Refinitiv in its FXall algorithmic trading capabilities.

Attracted by the potential benefits of bank-provided execution algorithms (algos), buy-side traders are increasingly folding algos into their menu of execution options alongside more traditional methods such as multi-dealer request-for-quote (RFQ) and bilateral streams of executable prices.

“As a leading multi-dealer platform for FX trading, FXall is committed to providing our clients with unparalleled choice in execution tools, including advanced algo trading workflow as they seek smarter ways to access liquidity with minimal market impact,” said Jill Sigelbaum, head of FXall at Refinitiv.

Enhancements to FXall’s algo trading solutions released in 2019 include:

  • The ability for users to slice algo tickets into several child orders, giving them more flexibility to work large tickets over time in order to help minimize market impact and information leakage.
  • The ability for users to pause the execution of an algo, giving them more control over execution while they monitor market conditions and amend the algo’s execution parameters, if needed, before either resuming or canceling the algo’s execution.

FXall is witnessing growing adoption of algos across all types of institutions, ranging from asset managers, to hedge funds and large corporate clients. By leveraging FXall’s leading connectivity to 22 bank algo providers and over 150 algos, these institutions benefit from pre- and post-trade workflow, as well as a single interface and user experience across all 22 algo providers. In addition, FXall’s Trade Performance Analytics includes a growing range of analytics and performance metrics to help users assess the quality of their algo execution in a consistent way across providers.

In addition to growth in algo trading, FXall sees continued growth in overall client activity on its platform, as evidenced by a new record day on June 26th, 2019 when overall FX daily volumes reached $396 billion.

For further information on Refinitiv’s FX solutions, visit here.

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