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FOCUS - Deploying rule-based FX algorithms in the quest for Best Execution

e-Forex Magazine July 2008 Issue 32

Nicholas Pratt

Where would we be without rules? At the time of writing Europe is in the middle of its four-yearly football tournament where once again controversy is raging over the persistently enigmatic offside rule which was originally designed to make the game a more attractive spectacle and now serves to fuel post-match arguments between rival fans. This debate, which has raged for decades, traditionally centres on the lack of consistency in applying this rule. The room for interpretation is too wide, leading to these inconsistencies and the accusation that it may be one rule for one and another rule for the others.

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