The Impact of Automated Trading Programs on FX Markets
with Zahir Antia and Nicholas Broz
Participants in FX markets increasingly use automated trading programs to achieve their objectives. How does this affect market functioning and price formation? What are the opportunities and challenges? What are the implications for other markets?
The study group of the BIS Markets Committee recently reviewed these questions. Zahir Antia and Nicholas Broz of the Bank of Canada participated in the study and will present its results, as well as updates based on a recent survey of Canadian market participants.