Saying no to algos
Algorithmic trading has come in for plenty of criticism from US politicians, with many blaming the practice for the dramatic flash crash on May 6, which saw the Dow Jones Industrial Average drop by nearly 1,000 points before rebounding. But even though it has come under the microscope in the equity market, this hasn’t stopped banks from looking to extend their algorithmic trading services to other asset classes – specifically, foreign exchange.
A number of forex platforms have now been launched
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