Reuters exclusively reported that Vanguard, the $5.6 trillion asset manager, plans to start using computer-run algorithms this year to trade FX directly with other funds, depriving banks of some of the fees they earn as the middlemen in currency deals. Vanguardâ€™s FX trading head Andy Maack told Reuters the fund giant, which trades about $225 billion in currencies each month, was in talks with several forex platforms about launching specialist algorithms designed to seek out and trade with other asset managers.
Reuters reveals fund giant Vanguard bypassing banks with forex algos
04 February 2020, 12:00 am 1 minute
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