Chip Lowry
Chip Lowry

Improving the eFX value proposition for Real-Money managers

Chip Lowry illustrates how the emergence of EMSs for trade aggregation together with confirmation/ settlement initiatives are helping to improve the eFX value proposition.

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

Real Money is a broad term covering self-managed pension funds and increasingly hedge funds. However, investment managers are probably what most people think of as real money managers. They manage pools of regulated funds that invest in mostly regulated securities although they can invest in alternative assets such as real estate, private equity and even hedge funds.These pools - or more commonly funds - are themselves individual legal entities each with their own accounts and credit lines. An investment manager may trade in large blocks of equity/fixed income/foreign exchange but there will almost always be associated allocations down to the individual fund level which can number into the thousands. Investment managers have by far the most complex workflows.eFX within the investment processBefore we consider how we improve the eFX value proposition, we need to understand where eFX sits within the investment process. I like to separate the investment process into three stages: the Idea Factory, Idea...continued

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