An increasing number of savvy banks are concurring with our long-held position, and with the results of our SEF survey that Single Dealer Platforms should provide Algorithmic SEF aggregation, to enable clients to easily access fragmented liquidity for cleared products across various SEFs and other execution venues.
The latest to publically articulate this position being no less than Tim Carrington, the Global Head of FX at RBS, in an article in Risk.Net.
“We think this is the future,” says Tim Carrington, global head of foreign exchange at Royal Bank of Scotland (RBS) in London. “In a world where more trading is done electronically and bid/offer spreads are compressed, dealers will be less able to differentiate themselves on price, and will instead have to focus on providing their clients with effective, convenient access to the market. Algorithmic execution, across all asset classes, is going to be a crucial part of that proposition.”