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From selecting FX algorithms, to evaluating liquidity providers, to identifying hidden costs, there is an emphasis on what the data is telling people, said multiple speakers at the virtual event.  In addition, recent changes to the FX Global Code of Conduct, could provide additional market transparency for the buy side related to algorithmic trading and TCA.

With the proliferation of algorithms in currency markets and regulatory pressure to prove best execution, buy-side trading desks are adopting algorithms to source liquidity and lower trading costs in FX trading.