Imported from previous forum
Funny utube clip on the impact of algos:
No doubt algos have had some major impact on the traditional sell side traders. Extrapolate that “structural upheaval lesson” forward. And, recall just how quickly it happened.
Moving the OTC derivatives business to fully standardized, electronic, and centrally cleared is going to have similar major structural impact.
Were it not to evolve “with the times” FIXatdl itself could become the next “lonely sales trader” Kermit sings about.