The Tradetech Daily



Geographies and asset classes

strongest demand for Nomura FX algorithmic execution comes from real 
sovereign wealth funds, regional banks and corporates.


Trading strategies and benchmarks

Nomura FX
algos support time weighted average price execution based on userspecified time
parameters, trade-weighted average price (TrWAP) from a selected primary
exchange and activity-weighted 
price (AWAP), which aims to provide a more dynamic client-risked application of


Access and functionality

Nomura’s FX
algorithms focus on providing customization and transparency when executing
orders. Clients can access these algorithms via
GUI and via a FIX application programming interface, as well as via Bloomberg.

algorithms have access to all the liquidity accessible to Nomura. In addition,
by acting as principal to the orders and internalising large portions of the
risk, Nomura algorithms focus on reducing market impact for clients. The benchmarks
are designed to be transparent, independent, and difficult to Axiom has been
developed to facilitate large streams of orders into the global FX marketplace,
anonymising significant trades and minimising market risk. Post-execution completed
deal streams are aggregated, adding significant operational efficiencies.
Nomura algorithms can be customised to suspend, resume, execute partial or
cancel execution streams using market price and benchmark trigger levels.


Pre- and post-trade reporting

provides a suite of tools via the NomuraLive GUI for pre and in-trade analysis on
the performance of the algorithms. Automated post trade reporting is provided detailing
the fill and price profile.


Future developments

Nomura have
a series of releases planned commencing Q1/2, enhancing current functionality
and scope. The exaction capabilities are being adapted to address new market
developments and to constantly increase efficiency and alpha generation.