Richard Willsher
Richard Willsher

Australasia – an emerging powerhouse of digital FX innovation

Richard Willsher reports on how a strong regulatory environment coupled with increasing demand for new, more efficient trading technologies, particularly from buyside firms is driving the development of e-FX across Australasia.

First Published: e-Forex Magazine 71 / Regional eFX Perspective / March, 2016

While New Zealand falls squarely within the Australasian geography and has a small number of significantly sized institutions and corporates, it is the Australian buy-side that promotes much of the demand from the area’s foreign exchange market as a whole.  Defining the buyside, Michael Correa, managing director and global head, corporate and institutional sales and debt capital markets at Westpac, divides the constituency into two main groups, the top 50 corporates who are essentially customers of the banks who borrow money, and the superannuation funds, other institutions, asset managers, central banks, insurance companies and hedge funds who are broadly investors of money. Below these in size of turnover is a layer of medium and smaller sized firms that may also have international dealings and so seek foreign exchange services.  These groups represent the demand side of the picture. The supplyside are the main banks in the region that comprise the large international universal banks...continued

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