FX In Focus: The Path to Automation Utopia

Over the past year, Covid-19 has led automation to become a number one priority for FX desks to integrate within their work systems for the upcoming year. The dramatic growth in the use of technology has led the buy side to step up and pursue a more automated FX flow as it has now become an essential part of the trading desks work life.

Although automation is seen as an asset for many of the buy side, it is evident that it also comes with its limitations. Our APAC Members provided on the record commentary, exploring various topics surrounding automation integration is an evolving field that will need continuous nurture and innovation.  

Below are some of the questions they discussed:  

• What are the main benefits and fallbacks of automation?
• What are the top 3 priorities for trading desks?
• How do you grow trust for the automation process and gain confidence?
• Which FX product set would benefit most from greater automation?

Informed by on-the-record interviews, polls and a roundtable discussion with a group of APAC FX heads– hosted under Chatham House Rule – this report summarises the concerns and opportunities.

As our systems become increasingly sophisticated with our automation efforts, there is an increasing challenge for the trading team to remember and understand the various processes that are in place.”

Kevin Long, Execution Trader, GIC Development and Institutional Sales, ANZ Region