NDF algo innovation rises as internal matching builds
Banks bolster offerings with new EM pairs and improved execution quality, in bid to increase internalisation
Banks are stepping up their algorithmic execution capabilities for restricted market currencies, applying many of the electronic matching and internalisation techniques from their spot algos.
Some banks have seen high double-digit growth in algo volumes for non-deliverable forwards (NDFs) trading, which they say has been driven by hedge funds and asset managers wanting electronic execution for
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