Fee compression threatens FX algo innovation
e-FX Forum: Bank algo heads say continued revenue pressures could stifle development
As fees for foreign exchange execution algorithms continues to face downward pressure, bank algo experts warn the situation could make it harder for teams to justify investing in delivering better products.
Algo businesses can be expensive to run, given the cost of hiring quants, IT resources, product updates and connecting to different venues. With fees constantly under pressure across the FX business, Asif Razaq, global head of FX algo execution at BNP Paribas, said it could become a hard sell
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