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It’s not every day that you receive independent verification that you have one of the best performing service propositions in the market, but that’s exactly what’s happened with our Peg Clipper algo. 

What is the Peg Clipper algo?

Algos, or algo-trading, uses a computer program that follows a defined set of instructions (an algorithm) to place a trade at precise times or when specific conditions are met. Our suite of execution algorithm tools let customers execute FX spot trades following pre-set rules, helping to reduce transaction costs and add transparency by giving more information about the market at the time of the transaction.  
 

Our Peg Clipper is a flexible product that allows orders be 'pegged' to the market. This means that the orders are amended continuously as the market moves to ensure they stay on the bid price if buying or the offer price if selling. Customers have the option to vary the pegging to be more or less passive and can also elect a 'no worse than' price, meaning the price they buy or sell at won't go beyond a certain level.

What’s the challenge?

A universally common challenge for both customers and banks, is the ability to assess the execution performance of an algo. The volume of FX transactions a customer undertakes can vary enormously over a period of time, and from customer to customer, so understanding how well an algo has performed, until recently, has proven difficult to understand. That is until when we joined the Tradefeedr Peer Universe.

About Tradefeedr’s review

Tradefeedr is an FX data metrics provider, that recently performed an independent ‘Peer Universe’ analysis across 10 algo banks. The results show that our Peg Clipper algo fills more quickly, with less slippage, than average, and significantly outperformed the average of our peer universe pool*.  
 

John Quayle, Head of FX Algo Execution, commented, “Algo execution is an integral part of our FX service proposition. Tradefeedr’s independent analysis* shows our customers are getting better execution outcomes as a result of using our Peg Clipper algo, when compared against the performance of a number of our competitors.” 
 

Matthew Harvey, Head of Cross Product Sales and Development, added, “In recent years, algo execution has become increasingly important to our customers, whether they be financial institutions or UK corporates. Evidencing better customer outcomes through the independent data provided by Tradefeedr is a game changer and something we should all be really proud of.”
 

Balraj Bassi, one of the co-founders of Tradefeedr said, “We welcome NatWest joining the Tradefeedr Peer Universe and supporting our efforts to drive transparency in FX and improve client outcomes by providing independent data.”
 

Peg Clipper and our suite of algorithmic execution tools are available via Agile Markets, our single dealer platform. To find out more, or contact the eFX Sales team: efxsales@natwestmarkets.com


*Based on data sourced on independent research data provided by Tradefeedr, January 2024


Note: Rates, currencies and certain financing products are provided by NatWest Markets Plc and its subsidiaries. For more information please visit our ring-fencing page.

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