3 papers
q-fin.RM2026
Win-score promotion gates in aggregator-routed RFQ markets: A two-tier stochastic control model
Alexander Barzykin
We study market making in aggregator-routed RFQ markets where platform routing depends on slowly varying dealer performance scores. We propose a two-tier stochastic control model t…
q-fin.RM2026
Dynamic slippage control and rejection feedback in spot FX market making
Alexander Barzykin
We study an OTC FX market-making problem, built on the Avellaneda-Stoikov tradition, in which a dealer streams size-dependent quotes on a discrete ladder and manages inventory risk…
q-fin.TR2025
FX Market Making with Internal Liquidity
Alexander Barzykin, Robert Boyce, Eyal Neuman
As the FX markets continue to evolve, many institutions have started offering passive access to their internal liquidity pools. Market makers act as principal and have the opportun…