James Kemp Managing Director of financial markets technologyand software consultants, Stentra.
James Kemp Managing Director of financial markets technologyand software consultants, Stentra.

Hybrid Broking – a key arbiter for success

Why do some customers prefer a mixture of voice interaction as well as electronic execution? James Kemp looks for answers and examines the benefits of the Hybrid Broking model.

First Published: e-Forex Magazine 14 / Features / April, 2004

Why do some customers prefer a mixture of skilled voice interaction as well as electronic execution? What are the benefits of the Hybrid Broking Model and what role does it play when dealing with less commoditised products?Rapid changes in technology, most notably the rise of the internet, have completely revolutionised the way in which many wholesale OTC markets function. Liquid products such as spot FX and G10 government bonds, which the inter-dealer market previously transacted through voice brokers, are now almost exclusively traded electronically and seamlessly settled through integrated STP systems. Reinforcing the extent to which technology has changed the rules of the game, it is no coincidence that many of these new successful electronic platforms are run by companies which did not even exist five years ago.As the electronic land-grab which started in the late 90’s matures into a much more stable and sustainable competitive environment, it is now an appropriate time to reflect not just on how...continued

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