One size no longer fits all. The welcome arrival of more tailored institutional forex software services

When the forex industry began to look at technology as a way to make more money, faster, and to stay ahead of the markets and the competition, an ‘out of the box’ or ‘off the shelf’ approach to technological solutions was the way to go. Today, as Heather McLean discovers, that idea is losing its appeal as a more tailored approach and a desire for differentiation in the marketplace, takes precedent.

First Published: e-Forex Magazine 56 / FX Brokerage Operations / April, 2014

The ‘one size fits all’ approach to forex technology has fallen out of favour, says Andrew Ralich, CEO of oneZero Financial Systems. He comments: “During the early stages of any market or technology trend, time to market is the primary driving force behind many participants’ deployment decisions. This was especially true in the retail FX space in the past 10 years. As the market has evolved, brokers have learned that ‘one size fits all’ offers many benefits, but also presents many pitfalls.” Ralich also adds that decoupling and replacing individual components in such a solution can prove to be quite difficult. “In addition, niche players have emerged and proven themselves to be domain experts in areas such as bridging, CRM, liquidity and risk management, and a combination of these bespoke solutions has proven to provide a more robust and flexible framework for running a brokerage. This being said, I do think we will still see centralised component frameworks...continued

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