Just a week after crowing: “The second thing we promise you is accuracy”, I have to admit to getting something wrong in the last edition of the Weekly FiX.
I wrote that Credit Suisse had commissioned a report, FX algorithms: Bringing best execution to the FX markets, from the Tabb Group. Unfortunately, I have to hold up my hands and admit I was wrong. Credit Suisse has only paid for the distribution rights. As a former spot trader of perhaps limited intelligence (You said it. – Sub-ed), I’m not entirely sure what the difference is. But in any case, the result is that I have been left with a little bit of egg on my face. It can happen to us all.