As technology continues to shape financial markets, what are the implications for how FX products are traded in Latin America?
The electronification of markets in continuing apace, yet many FX products outside of the spot market have proven stubbornly resistance to this trend. What are the barriers to automating NDFs, swaps and options, and are those barriers likely to lower anytime soon? What role, if any, does the voice trader have in Latin American FX markets?
However, while automation has brought undoubtedly benefits, making markets more efficient, less susceptible to human errors and easier to monitor and audit, there have been clear examples of where it has introduced new issues and challenges. The USD/JPY flash event at the start of this year was a prime example of this, but should these dramatic flash-crashes make market participants rethink how they execute in the market?
Meanwhile, Algos continue to be a big talking point in the industry. Once, it was only the banks and most sophisticated hedge funds using these tools to execute in FX, but increasingly it seems that corporates and real money clients are getting comfortable with using algos. To what extent is algo adoption gaining traction in LatAm, and does it really represent the most effective way to achieve best execution? In addition, from Transaction Cost Analysis (TCA) to building alpha-seeking strategies, how is data changing how market participants look at FX execution?
Our expert panel will be addressing these questions and more at the Profit & Loss Latin America conference on June 4th, as they trace the evolution of foreign exchange market and deliver some pointers on where it might be heading next.
Speakers for this session include:
Paul Aston, CEO, Tixall Global Advisors
Eduardo Gomez, Head of Electronic Trading, Monex
Holden Sibley, Managing Director, Head of Americas eFX Distribution, Barclays Investment Bank
George Holdefehr, Head of Sales, Latin America, 360T