Sovereign and pension funds in Asia start to use FX algos

Institutional investors in Asia are starting to use execution algorithms for foreign exchange trading, as global awareness spreads of the implicit costs of FX transactions. It comes in the wake of lawsuits in the US involving firms such as BNY Mellon and State Street. Aside from the traditional FX algo client base of macro and multi-strategy hedge funds, pension funds and sovereign wealth funds in the region are showing interest, says Jonathan Wykes, global head of advanced execut…