Michel Everaert Global Head of Product Marketing at GFI
Michel Everaert Global Head of Product Marketing at GFI

Spotlight - Building an online FX option presence

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

In the late nineties, at height of the dot.com boom, banks rushed forward to deliver online currency dealing services to their clients. Applets, websites and portals flourished and having an ‘online presence’ was considered to be essential. New age terms ‘time to market’ and ‘first mover advantage’ became all important and the new eCommerce managers were given sweeping powers and budgets to implement their systems. Within months dozens of new FX Trading systems were launched.However, when the bank sales representatives demonstrated their ‘new online capability’ to their clients, more often than not they found that their competitors were already offering online FX trading capabilities. Adding insult to injury, these competitive sites often looked very similar to their own offering, identical, in fact. Sure, the bank logo was different so too was the colour scheme, but the only differentiating factor for the client was the spread of the price on the screen.Why...continued

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