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NWM FX: OUR E CREDENTIALS




3 Sep 2024
Digital Sales   Europe   

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NWM eFX Credentials    

We have a strong track record of consistent and reliable pricing, alongside a
sophisticated Algo suite. This, along with our Rates credentials (see here),
means we are a key partner for anyone wishing to trade FX and/or Fixed Income
products electronically.  





Rankings Highlights:


 * Top 10 Bank for EURGBP streaming spot globally (by volume, H1 2024, Bloomberg
   and FXall)
 * Top 10 Bank for swaps globally (by volume, H1 2024, Bloomberg)
 * Top 5 Bank for EURGBP swaps globally (by volume, H1 2024, Bloomberg)
 * FX Markets winner of the ‘Best e-FX solution for Corporates’




eFX Options & The NatWest Gamma Hedger:


 * Top 5 Bank for options globally on Fenics and Bloomberg (by volume, H1
   2024)  




 * The Natwest Gamma Hedger gives you the ability to automate your FXO spot risk
   management, saving you time and giving you the opportunity to focus on
   trading volatility instead. The tool allows dynamic and flexible risk
   management of option portfolios, automating a manual process with continuous
   and reliable 24 hour coverage, 5.5 days a week. Please see this article for
   further details.

  

Algos:


 * We continue to develop close working relationships with our clients, and are
   at the forefront of becoming technology providers to our clients, not just
   market makers. One of our latest improvements is the addition of Hotspot,
   Curex, and Siege FX as liquidity pools into our algo suite. This, together
   with the option to curate our NWM COMS liquidity pool, offers you the ability
   to tailor who you want to trade your algos against, based on your
   overall market impact appetite.

  

 * Our unique liquidity pool, Client Order Matching System (COMS) is at the
   heart of our algo suite, and helps to minimise market impact and maximise
   spread capture for optimal execution. Our algos on average outperform the
   risk transfer price, saving you money. Our most popular algo, the Peg
   Clipper, is a clip-based passive execution algo which on average, beats the
   risk transfer price by ~1.8 basis point for G10 currency pairs (algo fill vs
   risk transfer, mean measure, based on data from 2024). Please get in touch
   with your FX sales contact for detailed stats around outperformance and
   execution speed.




Algos - Tradefeedr:

 * Tradefeedr’s ‘Peer Universe’ is made up of algo data from all its liquidity
   providers (10+). This allows Tradefeedr to construct averages for all the
   data (Tradefeedr/Global), and averages for subsets broken out by speed
   (Tradefeedr/Fast and Tradefeedr/Slow). These are shown in orange on the chart
   below, which shows forecast performance (y-axis) versus forecast
   risk (x-axis).

  

 * A good algo offers the best saving versus the Risk Transfer and should have
   the least slippage i.e. be as high on the chart as possible. It should also
   not take too long, as the length of time that the user is exposed to market
   risk, directly affects the volatility of the outcome.

  

 * Our Peg Clipper algo is fully passive, and aims to obtain a fill with minimum
   possible slippage versus inception mid. The Peg Clipper sits materially
   higher on the chart below than the peer average i.e. less slippage vs
   inception mid, whilst being equally as quick.




Algo Peer Universe (Data Since 2023)

 Note: This chart has been prepared based on information provided by Tradefeedr,
from 2nd January 2023 to 8th August 2024, in major currency pairs

  


 


If you have any thoughts, questions or ideas about our eFX product offering, we
would love for you to get in touch by emailing us here.

  


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Please click here to find all of NatWest Markets’ Strategy and Sales
commentary/ideas. 




You can also find out more about our electronic offering and credentials for
Rates here and for FX here.   


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This is Non-Independent Research, as defined by the Financial Conduct Authority.
Not intended for Retail Client distribution. This material should be regarded as
a marketing communication and may have been produced in conjunction with the
NatWest Markets Plc trading desks that trade as principal in the instruments
mentioned herein. All data is accurate as of the report date, unless otherwise
specified. 

 

This communication has been prepared by NatWest Markets Plc, and should be
regarded as a Marketing Communication, for which the relevant competent
authority is the UK Financial Conduct Authority.

  


Please follow the link for the following information
https://ci.natwest.com/regulatory-information/market-abuse-regulation-mar-disclosures
   

 * MAR Disclaimer
 * Conflicts of Interest statement
 * Glossary of definitions
 * Historic Trade ideas log

Where communicated in Singapore, this communication may be deemed an
advertisement. This advertisement has not been reviewed by the Monetary
Authority of Singapore.


Note the text above is subject to the following disclaimer(s)  Show disclaimer  

3 Sep 2024
Digital SalesEurope







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3 Sep 2024
Digital SalesEurope


Note the text above is subject to the following disclaimer(s)  Show disclaimer  





If you wish to discuss the content of this article further, please contact your
usual sales person. Remember, clients of Natwest Markets NV should reach out to
their relevant NV sales person.


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