An FX e-commerce Case Study

e-Forex invites James Kemp, Managing Director at Stentra, to illustrate how one investment bank took advantage of an in-depth evaluation of their FX e-commerce infrastructure, where a number of issues had proved intractable for many months.

First Published: e-Forex Magazine 25 / Case Study / October, 2006

e-Forex invites James Kemp, Managing Director at Stentra, to illustrate how one investment bank took advantage of an in-depth evaluation of their FX e-commerce infrastructure, where a number of issues had proved intractable for many months.The Business Context A prominent investment bank was looking to increase it’s market share in the FX market by improving its e-commerce offerings with the goal of transacting up to 80% of the FX business electronically.Unfortunately, the bank was experiencing a number of problems within its FX e-commerce environment and losing market share. Anecdotal evidence from the bank’s clients lay the blame for this loss of business on off-market or uncompetitive prices and the speed with which it reacted to quotes.Internally, the traders felt that problems with their pricing and trade notification systems were causing them to take on unnecessary risk in order to trade on competitive prices, or forcing them to widen spreads to uncompetitive levels. For example, it took...continued

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