Ian Daniels, executive director, head of e-FX distribution, EMEA, at Nomura, talks about algorithmic trading trends in the FX market.
Profit & Loss: Since you joined Nomura, you’ve been working on developing the bank’s algo offering, what are the latest developments there?
Ian Daniels: Our algos are now live on Bloomberg and will soon be live on a number of other major third party venues. I think that one of the benefits of being a later entrant into this space is that you have the experience of previous roll-outs to draw upon. So we knew that access to liquidity and the customisability of our algos would be important characteristics for our clients and that’s why we created algos that enable clients to execute in a default mode or that can be tailored to meet their specific needs.