How do head traders think FX automation is progressing?

On May 21st The Finance Hive brought together a small group of buy side traders interested in FX automation. Although they differed in the extent to which automation was a feature of their existing workflow and execution, they were united in their appetite to learn, share experiences and brainstorm on
expectations as to the next steps. The group were keen to capitalise on opportunity and assess the benefits that automation may have for their firm.

Automation was ultimately seen as an enabler – but only to those who could be dynamic enough to embrace evolving responsibilities and grow their skill sets. There will always be a need for the human touch, and counterparty relationships remain important, but the group broadly agreed that allowing a machine to take care of nuisance trades would enable them to handle larger, more difficult orders with more precision; which would ultimately improve returns for end investors.

To highlight a couple of the points raised:


Relationships with banks are still key in OTC markets but when volumes significantly increase automation can be a big help.


Using automation to aggregate multiple vendor data streams will streamline workflow and consolidate screen real estate, which is tight especially when working from home.”


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