Kevin Galliers Vice President Sales, Cognotec
Kevin Galliers Vice President Sales, Cognotec

What's driving the increasing uptake of eFX in the Asia-Pacific region?

Kevin Galliers examines the reasons why barriers to the development of online FX in the Asia-pacific region are falling.

Barriers to the development of online trading in the region are falling as Japan leads the way in the Asian eFX revolutionOnline foreign exchange trading has taken off in Asia, with Cognotec's own figures showing a 61% increase in eFX trading volumes for the first half of 20031. The efficiencies offered by eFX trading platforms have turned them from merely being a desirable add-on, to an essential part of every major banks' trading strategy going forward. What's more, evidence is building that this interest in eFX platforms will be sustained. Discussions at last year's ACI Asia-Pacific Congress demonstrated increasing sophistication in Asian banks' foreign exchange trading, in terms of both products offered and technology employed. Most agreed that the Internet is crucial to these developments. Further, Frank Wong, Senior Managing Director at DBS Bank, Singapore said change must come to drive local players' return on equity which was lagging that of international banks2.The entrance of China as a player,...continued

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