SEB has announced that it is the first Scandinavian bank offering FX algo trading to its clients through multibank portals Bloomberg and FX All. Instead of traditional orders where clients call in for their orders to be executed, clients will now be able to place their orders themselves through FX Algos, a new portal which will give them the advantage of a transparent, smooth as well as automated trading solution.
Clients will completely own their order execution being able to select their preferred strategy and follow the execution without the need of contacting their sales person at the bank. SEB’s algorithms (algos) are developed in-house, providing the best flexibility to continuously improve its offering together with its clients, as well as the ability to integrate the execution with our world-leading flow franchise in Scandinavian currencies.
Svante Hedin, co-head of Trading at SEB, said: “We see our algorithmic execution products as an important complement to our existing market-making services and are looking forward to supporting our clients across their diverse execution requirements. As the number one Scandie bank, SEB will continue to support its clients with best execution and advisory.”
SEB’s offering covers a range of customizable algorithms, from passive to aggressive, including execution evaluation with a transaction cost analysis (TCA) report. Clients will have direct access to multiple diverse liquidity pools that they would not be able to access without algos, including SEB’s unique internal liquidity pool in Scandies, which algos will be able to match against with minimal market impact.