Mark Robson Global Head of Treasury & Fixed Income, Reuters
Mark Robson Global Head of Treasury & Fixed Income, Reuters

eFX - facilitating convergence and alliance across the FX industry

- facilitating convergence and alliance across the FX industry

First Published: e-Forex Magazine 16 / Leader / October, 2004

Over the last five years the outlook for the global FX market place has dramatically flipped. To many back in 1999 the prospects were dire. A lacklustre environment of currency consolidation (Euro) and surplus, expensive, dealing capacity, delivering poor or volatile profits. At the same time demanding substantial investment for millennium compliance and to take down operational costs by automating the dealer-to-customer workflow through what became knows as “eFX”.It turned out a lot better than expected! But why? There were two superficial reasons. Firstly, a predictable recovery from the impact of the double-whammy of Euro & Millenium on FX turnover. FX is a long term bull market but we know there are always periods of retracement. Secondly, a package of underlying growth drivers - in cross-border security transactions, emergence of emerging market economies, political volatility, and diversification into FX for trading profits whilst equities and bonds suffered. More important was that bank...continued

Exclusive Content

The full article is only available to current subscribers. Click here to sign in or subscribe by clicking here