Brian Maccaba CEO and Founder of Cognotec
Brian Maccaba CEO and Founder of Cognotec

A crucial time for portals.

Now is a key time in the development of multi-bank portals and Brian Maccaba believes that in the future they will become the chief method of price discovery for clients.

First Published: e-Forex Magazine 7 / Leader / July, 2002

The advent of multi-bank portals has been one of the most exciting developments to ever happen in the foreign exchange marketplace. They have been enabled by the growth of electronic trading which itself has allowed the financial community to save time and reduce costs through a range of functional improvements. However, we are approaching a crucial time for portals and their place within the foreign exchange trading landscape.Benefits for both sidesIt is beneficial to consider how portals arose from the development of electronic trading. The benefits of electronic trading, e.g. price discovery, ease of execution, automated updating of parallel systems (enabling STP), greater operational efficiency, have been shared by both the buy and the sell side. For instance, price discovery has been made easier and more transparent for customers because real executable prices (not merely indicative) are displayed and continuously updated on screen. The bank can forward these prices automatically from its automated...continued

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