Single bank platforms: still an unrivalled value proposition?

With Peter Hagenauer, head of eCommerce Applications & Technologies, Markets, ANZ Institutional, Lorne Gavsie, Director, Foreign Exchange, BMO Capital Markets, Ian O'Flaherty, Global Head of e-Commerce, Foreign Exchange, Deutsche Bank, Klaus Hoffmann, Global head of Foreign Exchange and Precious Metals at Commerzbank and Eddie Wen, Global head of FX-Commerce at JP Morgan.

First Published: e-Forex Magazine 31 / e-Forex Roundtable / April, 2008

It wasn't too long ago that some commentators were calling the end of single bank FX trading platforms and the emergence of multi-bank portals as the dominant FX trading venue of the future. Why hasn't that happened? Hagenauer: While there has been much written about multi bank portals, it is important to note that single bank platforms continue to account for a significant proportion of the global deal flow across eFX platforms.  Banks such as the ANZ cater to a number of client segments.  While these segments have common needs (at its simplest receiving a rate to execute a transaction); it is incorrect to assume that all segments require and value the same functionality – and therefore that the multi bank portal is the optimal model for all.  Multi bank portals have a strong match to clients who have multiple dealing relationships, require rapid execution and a clear audit trail as a result of regulatory and operational risk requirements.  Single bank platforms cater for a...continued

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