Richard Estes Head of Global Markets e-CommerceThe Bank of New York
Richard Estes Head of Global Markets e-CommerceThe Bank of New York

The role of single-bank FX systems in the evolution of online FX trading.

Richard Estes outlines why he believes the continued success of single bank trading systems is playing a strategic role in the growth of online FX.

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

The Role Of Single-Bank FX Systems In The Evolution Of Online FX TradingOver the last two or so years, the noise about online FX trading has been the intrigue surrounding the competing efforts of FXall, Atriax, Currenex, Global Link, and others to establish an industry-dominant multi-bank portal. News of the progress or demise of these multi-bank portals has dominated the world of FX e-commerce. Meanwhile, the world’s leading banks continue to operate their own proprietary FX trading web sites, many of them with great success. This suggests that the model of individual banks offering their single-bank trading systems was not just a precursor to the evolution towards multi-bank portals. Rather, the continued success of the single-bank trading systems alongside the maturing multi-bank portals plays a strategic role in the growth of online FX trading.Banks that desire to maintain and grow their FX businesses need to offer clients a means to trade FX via a proprietary web site. While access to clients via...continued

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