Currency Algo Trading Climbs for Investors on Integral's System
- Asset managers’ algo volumes almost quadrupled in 1Q: Integral
- One aim of these strategies is to cut transaction costs
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Money managers are ramping up their use of algorithmic trading in one corner of the $5.1-trillion-a-day currency market.
On Integral Development Corp.’s currency-trading platform, investors nearly quadrupled their use of the company’s algorithmic strategies to a record in the first quarter relative to a year earlier, according to the Palo Alto, California-based firm. More than half of asset managers’ currency volumes last quarter on the system were executed via Integral algos, said the company. Banks and brokers also use the $45-billion-a-day platform.