Inside ING’s international alternate enterprise, a particular algorithm has the job of searching for indicators that may point out an abrupt, surprising shift out there, and adjusting the financial institution’s costs accordingly. On July 16, that algo needed to earn its corn: experiences unfold that US president Donald Trump was planning to fireside the chair of the Federal Reserve, Jerome Powell.
“On the Powell information, it actually kicked in,” says Simon Bevan, international head of e-trading at ING.
Markets went on a rollercoaster trip
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