Accelerated development of standardized APIs and trading algos are driving fixed-income automation

Steve Toland, Co-Founder of TransFICC, discusses the changing face of fixed-income and multi-asset trading desks through the development of standardized APIs; bank user interfaces, and trading algorithms for RFQ negotiations. He also unpacks the limitations of some algos in fixed income and says that there is a long way to go before AI is ready for FI trading applications.

“I don’t think AI is ready for prime time yet. Maybe it will be used to analyze data but in terms of trading functionality there is a long way to go,” Toland says.