Forex algorithms gaining traction among hedge funds

The paper, Algorithmic trading in the global FX market: The need for speed, transparency and fairness, follows a new survey by the Bank for International Settlements (BIS) reporting a 30% growth in forex trading volumes for financial institutions since 2004; FXall anticipates daily average forex trade flow to hit $300 billion this year, a small but not insignificant portion of the combined $3.2 trillion traded in the forex markets daily.

The white paper attributes this growth in no small part

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