Galen Stops digs a little deeper into the results of the recent JP Morgan e-trading survey and finds some surprising statistics.
For those of you who missed it, there were some noteworthy nuggets of data contained within JP Morgan’s recent e-trends survey. But digging a little deeper beyond the headline figures reveals some even more interesting trends emerging in the FX market.
The first thing to point out is that the survey raises some curious questions about algo usage amongst clients. On the surface, it presents good news for algo providers – although only 8% of respondents said that they currently use algos for execution, 24% said that they plan to increase their usage of them in 2018.
The FX industry has been caught out by the advance of technology before, so although the report looks at the issue across broader markets, the FCA’s study on algorithmic trading should be essential reading for anyone senior in the industry. What concerned me reading the report was further evidence of a lack of understanding about the potential impact and risks associated with using algos at the highest level. Of course, whilst highlighting these themes I have grabbed the opportunity to suggest silly names for algo strategies!
OTCXN, a blockchain-powered capital markets infrastructure company today announced that Fractal Wealth, a proprietary algorithmic trading firm that trades digital assets, has joined its network.This news comes just days after OTCXN revealed that OSL, an OTC digital asset brokerage company in Asia-Pacific, has also joined its network.“We are pleased to have Fractal Wealth join the OTCXN network. They represent a unique source of liquidity for our rapidly growing and diverse institutional client base. As an algorithmic trading firm, they will benefit from the ability to trade programmatically on OTCXN’s ECN, LiquiMatch. OTCXN’s aggregated liquidity spans both native, resting dark and lit orders, executable quote streams from major liquidity providers, plus institutional, as well as retail exchanges that have joined the network.