Contents :
Guess who ’ s back
THETRADETECHFX DAILY
Contents :
3 Editor ’ s note
4 Latest news and people moves Keeping you informed of key industry developments
10 In depth - Did CLS make the right call in not extending its cut-off after T + 1 ? Despite the multi-currency netting system ’ s decision coming under fire from both the buy-side and custodians , CLS has not seen a drop off in daily settlement values and volumes , suggesting – at least for now – that it may have been the right decision .
16 Successful traders combine data-driven analysis with tradition trading acumen Ramin Salmen , senior trader at DWS , unpacks how buy-side FX trading desks are continuing to evolve as technology ramps up and what makes for successful traders on increasingly data-driven desks .
18 In-house algorithmic execution platforms are the way forward The TRADE sits down with Rick Lodder , algorithmic execution specialist at MN , to discuss the important role of algos in levelling up the front-office tech stack , potential technological barriers when it comes to FX instruments , and the increasingly strong case for in-house algorithmic execution platforms .
20 Harnessing artificial intelligence on future trading desks The TRADE sits down with Baris Halitoglu , trader at Nordea Asset Management , to explore how developments in automation and artificial intelligence are shaping the future identity of both the trader and the trading desk .
21 Dynamic panel structuring is key to maintaining trading efficiency The TRADE sits down with Joseph Forde , FX trader at Brown Brothers Harriman ( BBH ), to unpack the best approach to panels , highlighting the key factors when it comes to analysing bank performance , the importance of a flexible structure , and what should be front of mind to maintain effective , long-lasting relationships with liquidity providers .
22 The future role of the trader as product owner The TRADE sits down with Alan Martin Lucero , lead FX trader at Norges Bank Investment Management , to explore the future role of traders on the desk and how they ’ re expanding their market knowledge to become a jack of all trades across the trading lifecycle .
24 Achieving TCA maturity on the trading desk Noortje Draper , trading analytics lead at PGGM Investments , sits down with The TRADE to explore multi-asset TCA use cases , the pros and cons of building in-house , and the shift from monitoring to actively optimising trading strategies using pre-trade data .
26 The full TradeTech FX 2024 Agenda
Guess who ’ s back
It ’ s that time of year again , when those of us orbiting the foreign exchange sphere gather to talk shop . And talk shop we shall do over a packed out three days here at TradeTech FX 2024 . Set against the beautiful backdrop of Amsterdam in the Autumn , Europe ’ s biggest gathering of foreign exchange worshippers is back once again , and The TRADE is delighted to return as the official media partner to the event . In the wake of the shift to T + 1 in the US , I think many of you will join me in wondering what was all the fuss about ? After plaguing the headlines – it certainly kept us busy – and with many predicting a cataclysmic impact on the markets , it ’ s pretty clear to see that the overall conclusion is everything is mostly fine . There are some creases to be ironed out , but it would be strange if there weren ’ t . And , while it may seem anticlimactic to those of us more inclined to the theatrical , it can only be seen as a positive that the markets have been able to ride the shortened settlement wave quite so well . The industry is now looking to Europe and the UK to see when they might follow suit . It would be wrong to put pen to paper for the editor ’ s letter without touching on the macro landscape . As we all know , the world revolves around the US and with the Federal Reserve expected to finally cut interest rates in the next few days and with what ’ s been an eventful election set to come to fruition in November , it ’ s likely that many of you will be keeping a keen eye on the horizon to see what the ripple effects may be . This week ’ s event will explore every corner of the foreign exchange markets , touching on innovations on the trading desk , execution automation , datadriven investment decisions , tech stacks , the macro landscape , the liquidity landscape , data and analytics , algos , talent and more . In this issue , you ’ ll find content tailored especially to the next few days including exclusive interviews with buy-side speakers unpacking both the topics discussed in their panels and wider industry themes , the latest news and people moves , thought leadership content and the official conference agenda . It was a delight to put this edition together and we hope it helps to guide you through the event . For now , all that ’ s left to say is have a great conference and be sure to say hello to The TRADE team if you see them darting about !
Annabel Smith Editor
The TRADE
The official newspaper of TradeTech FX 2024 TheTradeNews . com 3