With any new product, there is always a concern that it won’t live up to the hype. Google Glass did not revolutionise computing, the Sinclair C5 did not mark a step change in the field of transport and blockchain has yet to provide any tangible solutions for the world of finance.

Many in the currency markets believe execution algorithms for non-deliverable forwards have similarly failed to meet expectations. During the pandemic, algo execution became the predominant method by which buy-side