Neill Penney is Head of Product Development at FXall.
Neill Penney is Head of Product Development at FXall.

Developing an FX Portal Strategy

What should banks consider when choosing an FX Portal? Neill Penney assesses the key issues involved with selecting a partner that will ensure they maintain their competitive advantage.

First Published: e-Forex Magazine 13 / Features / January, 2004

FXall discusses what banks should consider when choosing an FX Portal. What are the most important issues in selecting a partner that will ensure banks maintain their competitive advantage and differentiation from competitors?2003 saw the FX multi-bank portal business come of age. Customer numbers and volumes reached critical mass. Focus shifted their attention away from ‘click and deal' towards improving efficiencies across the entire deal lifecycle. Customers started to re-engineer their dealing processes around online execution – after years of discussing the advantages, STP finally became a reality for the buy-side.The maturing of the industry last year led banks to review their FX portal strategy. Banks that were members of more than one portal have evaluated their participation in these initiatives. Instead of taking a broad approach and supporting the full range of portals, banks have decreased their operational costs through a smaller, carefully selected set. For banks not already a...continued

Exclusive Content

The full article is only available to current subscribers. Click here to sign in or subscribe by clicking here