Single Bank FX platforms - moving to enrich the customer experience

Frances Maguire talks to a selection of leading banks about how they are differentiating themselves and adding value to their e-FX platforms in a maturing, but still increasingly competitive, market place.

First Published: e-Forex Magazine 45 / FOCUS / October, 2011

Single bank FX platforms are winning out over multi-bank platforms. Not surprisingly, the main reason for this is simply that banks are investing more heavily in them, and in doing so, focusing on extending the service offerings and innovating to further enrich the usability of their platforms. No longer able to compete on pricing or even execution services, banks are concentrating on the value-add of their e-FX offerings. Whether it is research or smarter web technology, the buzzword is “customisation” and the focus is on delivering to clients the kind of services they want, when they want them. For Paul Caplin, CEO of Caplin Systems, single bank platforms have become a central part of the trading landscape in FX. He says: “So much flow now goes through single dealer platforms that every bank has to take them seriously, as a strategic weapon. There is a lot of pressure on banks to build more competitive FX single dealer platforms. How banks make their FX SDP more competitive depends very...continued

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