Mark Redwood is Managing Director of Reuters Automated Dealing Technologies
Mark Redwood is Managing Director of Reuters Automated Dealing Technologies

FX Outsourcing: Navigating the Options.

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

Maintaining a competitive foreign exchange operation can appear challenging and expensive. How can banks provide a round the clock competitive foreign exchange/money market service, without the associated overheads damaging their profitability? The options available to banks considering launching an automated dealing service have increased significantly during the last 18 months. With a bank's reputation relying on quality of the service, and with market needs changing rapidly, the choice of technology is critical as is its decision whether to outsource FX trades to a liquidity provider.Influencing factorsOne must identify key factors that should influence a decision and then examine the relative merits of each. For example:• Does the bank wish to extend the range of services it offers? For example, does it want to provide a 24-hour service, include a limit order capability and offer money market trading capability over the Internet?• How does it wish to service different segments of its customer...continued

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