James Crossan Chief Foreign Exchange Risk Officer at Brown Brothers Harriman & Co.
James Crossan Chief Foreign Exchange Risk Officer at Brown Brothers Harriman & Co.

The role of Custodians in driving eFX developments

A global custodian’s foreign exchange team is uniquely qualified to develop and deliver eFX solutions for the global investor. James Crossan describes the contribution they have made in driving eFX developments.

First Published: e-Forex Magazine 8 / Viewpoint / October, 2002

Global custodian’s Foreign Exchange teams are uniquely qualified to develop and deliver eFX solutions that satisfy the needs of the global investor. There are many aspects to a successful eFX product: price discovery, risk management, product integration and STP efficiencies. To build a complete eFX solution for the global investment community, the FX team must have a good understanding of the operational issues the global investor faces, which may be mitigated in an eFX environment. The unique combination of the FX team’s expertise and the custodian’s knowledge of the global investor’s needs relating to investment instruments, markets and processes, is not only necessary but has fostered an environment wherein the custodial FX provider is a leading force in driving eFX initiatives in today’s market.Historical PerspectiveFifteen years ago, the global custodian’s primary function was to monitor transaction flow and execute the foreign exchange transactions necessary...continued

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