Leveraging the growing power of Single Dealer Platforms

Nicholas Pratt looks at the key strengths of the Single Dealer Platform and what a selection of leading banks are doing to exploit them.

The battle between single dealer (SDPs) and multi dealer platforms (MDPs) continues to rumble on. According to figures from the bank of England’s semi-annual FX turnover survey results, released in January 2013, execution via SDPs continued to outperform MDPs with a total of $277bn per day against $206bn per day, although both totals were down on volumes in the previous six months by 7 and 11% respectively. Furthermore the various providers of SDPs, both the top tier banks that dominate the SDP world and the growing number of regional banks that are devoting more resources to their own SDP offerings, continue to add new features and functionality to the SDPs suggesting that the expectations for even greater client take-up of SDP services are set to increase.According to Marek Robertson, global head of eFX distribution at Barclays, the key strengths of the SDP can be categorised in two broad areas – innovation and product range, client relationship and service provision. “The innovations...continued

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