Banks prepare to unleash FX swap bots

This is the second of a two-part series looking at the progress of electronification in the foreign exchange swap market. Part one, looking at how liquidity providers are advancing electronic trading on CME FX Link, is available here.

At least two dealers are poised to offer execution algorithms for foreign exchange swaps once liquidity on electronic interdealer venues reaches a critical mass.

BNP Paribas and JP Morgan have built execution algos for use by clients, but with electronic