Execution: From Voice to Algorithm

The Trading Floor with David Axtell · Mar 3, 2026 · 18m

Episode 6 explores the evolution of FX execution from voice-based relationship trading to sophisticated electronic and algorithmic methods. David Axtell draws on 35 years of experience to explain when each execution channel makes sense and how to choose strategically.The episode covers voice trading's continued relevance for large trades (£50M+), complex structures, and stressed markets where electronic quotes disappear. Single-dealer platforms offer relationship-based pricing with comprehensive product coverage but sacrifice competitive tension. Multi-dealer platforms provide price…