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through further automation, and this has been an area that T. Rowe Price has been exploring in recent months.
“ We ' ve been working with Digital Vega and we ' re looking at a few other option providers to enable us to be able to trade an FX option the same way we would be able to electronically trade EUR / USD,” he explains.
“ That is holding back a lot of real money clients. It still feels like the‘ back of a cigarette packet’ in terms of technology but if as an industry we can get better, then that should mean we can automate more as well.”
The importance of diverse counterparties For Baker, success in trading, in particular foreign exchange trading, lies in having a diverse roster of counterparties to work with in any given situation.
“ Our job as buy-side traders is to sheriff the pricing we get back from our counterparties.”
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