TRADE EXECUTION FX


Proving best execution with simulators


Best execution has been front and centre in equity markets in recent years. Testing algorithms is more developed in equity trading than any other asset class. This has been driven by


the competitive


pressures for the sell side in proving algo performance in order to maintain their place on the right buy-side broker wheels. For


the


buy-side though, it is the ability to differentiate between competing and commoditised algorithms. Now the demands of proving best execution have been extended to other asset classes.


The increased focus on execution quality, particularly in the wake of MIFiD II, means market


participants are turning to the next- generation of market simulators to demonstrate best execution.


The Opportunity Markets


for FX


During the intervening decade since the financial crisis, the new demands of conduct and regulation


FX TRADER MAGAZINE April - June 2019 37


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