Ian O'Flaherty Global Head of Spot Foreign Exchange, Deutsche Bank
Ian O'Flaherty Global Head of Spot Foreign Exchange, Deutsche Bank

Ian O'Flaherty discusses: Value-added services, the key to differentiating amongst single bank Portals?

First Published: e-Forex Magazine 23 / Viewpoint / April, 2006

Rumours of the demise of Single Bank portals are unfounded. In 2005 Deutsche Bank’s greatest increase in e-FX volumes came through our proprietary portal autobahnFX. FX does not work like an Exchange and to date we believe only a small percentage of volumes are truly client to client. In 2006, FX remains a relationship based service industry but technology is putting it to the test.At the dawn of e-FX, some banks invested heavily in technology to produce robust and reliable proprietary portals. Some banks stayed on the touchline, watching to see if e-FX was just another unprofitable fad, but it is clear that clients want to access liquidity through the electronic medium. This was clearly shown in the 2005 Euromoney Survey results where those who embraced electronic distribution saw their market share soar.There is certainly room for both single bank and multi bank portals, but each must be able to bring something to the table. The multi bank portals that will flourish will be those that compliment...continued

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