IT Integration of FX Electronic trading platforms: the impact on the buy-side

Kelly Adams looks at the proliferation of buy-side electronic FX platforms and how this is creating some major integration challenges on the IT side.

There’s a radio ad I frequently hear in the mornings in which the CEO of a major Fortune 500 hardware manufacturer boasts: “change is in our DNA. We don’t hide from it, we embrace it.”Well, whether we like it or not, this is the status quo in the world of FX trading and FX IT. While electronic trading amongst the banks has been in existence for approx five years, we are now seeing a proliferation of buy-side electronic FX platforms like never before. (My last count was 21 offerings!) On many levels, this is causing a collision of the old world vs. the new world. On the trading level it is forcing more and more FX dealers to become familiar and comfortable with trading over the internet and on the IT side it is creating some major integration challenges. And, unlike the equities markets where electronic trading has been around for some time and electronic standards and formats (FIX) have been set, the electronic handshake between FX sell-side...continued

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