Rosario M. Ingargiola
Rosario M. Ingargiola

Transformation of the Foreign Exchange Industry Is it finally happening?

By Rosario M. Ingargiola, President and Chief Executive Officer of FXone Seabury Financial Solutions (SFS)

First Published: e-Forex Magazine 58 / Expert Opinion / October, 2014

Most people would agree, whether buy-side or sell-side and maybe even the vendors, that a transformation and change of the FX industry is needed and long overdue.  Other than recent regulatory shifts there have been very few, if any, game-changing innovations that have positively transformed the market as a whole. But what changes will be brought and by whom?  One area might be the market structure itself.  The debate over OTC market continuation versus the future of exchange-traded FX instruments is accelerating.  We see clients really benefiting from the open order book and lack of exclusivity prominent in some venues currently gaining in popularity. Another trend and potential area of growth is the “equitization” of the FX markets, including moves towards exchange-like SEFs, the increased use of execution algos, the desire for more analytics and TCA, as well as the compression of spreads.  There is even talk about sub-1/10 pip price increments…did you ever wish...continued

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