– Split up execution strategies between low touch and high touch flow.
– Still some human intervention on this but very quick.
– Then focus trader intervention very much on the high touch trading side of things.
– Have a robust EMS that can compare streams and prices is essential, and also gives you an advantage on the pre-trade side.
– Automation should depend on your workflow- Smaller trades can add extreme value to larger trades- so it shouldn’t be an immediate view of simply auto-executing your smaller FX flow. Smaller trades can help you with transparency and achieving best execution for your bigger trades and the counter parties you can work with. No info leakage too.
– You need 3-5 historic trading patterns- then you can define a decision tree for your trades.