Stephen Smit Managing DirectorState Street Global Link
Stephen Smit Managing DirectorState Street Global Link

On-line Forex - driving digital integration?

Stephen Smit looks at the benefits that global asset managers could gain from an integrated trading environment for foreign exchange.

First Published: e-Forex Magazine 12 / Leader / October, 2003

Take pity on Global Asset Managers - they, who, only a few short years ago enjoyed double digit returns, the effusive praise of clients and a general aura of invulnerability. Times change, and today these same individuals have been visited by a plague of depressed investment valuations, rising expenses, uncertain markets, currency volatility and collapsing margins.Still, they make the best of it. And in the spirit of doing your best with the hand you are dealt, global asset managers are today wrestling their businesses into shape – to survive and to be prepared for the fundamentally changed investment world of the future.Embracing e-forexRatcheting down costs and developing more cost-efficient means of developing and implementing strategies have not been easy for these investors. Severe margin compression has led to headcount reductions, cuts in IT budgets and shrinkage in research and marketing expenditures.Consequently, asset managers have out of necessity begun to undertake a comprehensive...continued

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