e-Forex Magazine April 2003

e-Forex Magazine April 2003

e-Forex Apr 2003 - The ASP Model - fertilising the growth of eFX. CLS & STP - The implications for FX Business Models. Alpha and the benefits of electronic foreign exchange.

 

Electronic War: a reality?

Foreword

Heering Ligthart discusses the likely impact of terrorist and other attacks on electronic markets and the role the ACI could play in solving market problems resulting from these disruptions....show more

 

The ASP Model – fertilising the growth of eFX.

Leader

The ASP software delivered model might have failed to live up to early promises in many industries but not so in FX says Farid Naib, who believes this delivery mechanism for many current eFX services has been overlooked. He goes on to outline the ben...show more

 

Alpha and the benefits of electronic foreign exchange

Features

Asset managers are seeking to generate returns (or alpha) and demanding improved service provision in the process. How can the sell-side differentiate themselves from the competition and capture this business? Mark Clarke provides some answers....show more

 

Matching for the buy-side – considering the merits

Features

Few clients will find that a matching engine answers all their needs, but for spot FX trading it’s the most efficient way to trade says David Ogg. He outlines what matching engines are capable of and their benefits....show more

 

Trading FX Options on-line. Here to stay?

Features

Jeff Larsen notes that many in the past have maintained that FX Options were too complicated to move online. However the growing success of a number of electronic trading platforms goes against the face of past resistance towards market acceptance....show more

 

CLS & STP – The implications for FX Business Models

Marketplace

CLS is not a black box and many banks looking for a CLS provider are ignoring the strategic implications of their decision say Chris Marshall and Seth Cohen. They examine the upstream (pre-trade) and downstream (post-trade) implications of CLS to sho...show more

 

Extranets – a new breed of services to facilitate eFX

Features

The public Internet has great advantages but you get what you pay for and there are no guarantees, warranties or service level agreements. Chris Pickles discusses how these and other factors have brought Extranets to the fore in eFX....show more

 

STP for forex – pre trade market risk analysis in e-forex platforms

Features

Monitoring currency exposure requires a sophisticated risk engine stresses Benoit Fleury. He illustrates how the latest risk management products can not only support complex derivative products but can now also be embedded within electronic platforms...show more

 

Managing online security

Features

Bill Munroe shows us how, by utilising the defense in depth principle, organisations can greatly reduce the risks of delivering high value FX services over the Internet....show more

 

Improving Customer Retention in the new online FX environment

Features

Colin Day shows how essential it is in today’s marketplace to enhance customer service whilst keeping costs low and processing efficient. Combining back-office investigations functionality with online transaction data is one way banks can improve ser...show more

 

eFX – don’t ignore the training

Features

A well thought through training strategy can help e-platform providers gain an edge over competitors explains Richard Folcker. And it’s not just their sales teams who need to be brought up to speed. Providers must also offer their clients a range of...show more

UBS rolls out Winners and Losers

News

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Over 100 banks sign up to Bloomberg PowerMatch-FX

News

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Rabobank Treasury Expands Advisory Services

News

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CME Offers Real-Time Market Data

News

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Bank One chooses Integral for FX margin trading

News

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Another volume record for FXall

News

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Goldman Sachs expands online derivative offerings

News

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Currenex appoints new Chairman

News

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BBH Launches FX Indexlink on the Web

News

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Cognotec develops Market Rate Manager

News

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Refco Launches E-Prime Brokerage Solution

News

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Barclays Capital continues developing FX Trader

News

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SEB e-trading solution breaks new ground

News

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TWIST members rolling our compliant interfaces

News

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JPMorgan enhances multi-asset class offering

News

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LloydsTSB offers new Money Market facility

News

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Bank of America launches new STP platform, FXtransactâ„¢

News

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COESfx Licenses TradeTracâ„¢

News

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Reuters 3000 Xtra available for Thin Client deployment

News

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Client utilisation of PrismLight commences

News

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RCP enhances Deal Web

News

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GFI to help Risk Managers in FX Options Market

News

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Hotspot FXi opens European office in London

News

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Credit Lyonnais goes live with CityNet CLS module

News

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Global Forex Trading announces new dealable prices

News

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ADM sees increased interest in Brokerbox e-FX system

News

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National Australia Bank launches QuickFXâ„¢

News

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The Royal Bank of Scotland launches RBS FiX

News

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A Darwinian solution for eFX trading systems – adopting a standard platform

Viewpoint

Now that the shakeout is abating of a various eFX business models and trading technology what is the standard for today’s eFX trading platform and how did it get that way? Harpal Sandhu gives us his opinions in this edition of VIEWPOINT....show more

 

FX White Labeling – delivering a branded, secure and scalable infrastructure

e-Forex Roundtable

With the help of Anthony Edwards from CMC Partners, e-Forex brings representatives from three major banks to discuss the future of White Labeling and their own offerings....show more

Refinitiv’s FX Survey results – May / June 2020

e-FX Industry Report

The latest FX survey from Refinitiv asked more than 1,000 of the firms clients from 50 countries about the impact of COVID-19 on forex trading, including their biggest challenges, favoured execution methods, and their experiences working in a virtual office environment....show more

 

The evolution of FX automation for regional banks in the U.S.

Regional eFX Perspective

Twenty years ago, the foreign exchange market entered the dawn of electronic trading. Several years after the launch of EBS and Reuters Matching for the interbank spot market, a race kicked off to establish the first dominant customer-to-bank FX trading platform for the industry. The establishment of FX electronic trading platforms such as FXall, FX Connect, Currenex, 360T, Bloomberg, and many others over the proceeding years has had a profound effect upon the FX market....show more

Integral with Harpal Sandhu, CEO: Talking about TrueFX, the purpose built FX OTC venue

e-Forex Interview

Integral’s CEO, Harpal Sandhu talks to e-Forex about the current product set of the company and is then joined by Brandon Mulvihill, Global Head of FX Prime Brokerage at Jefferies to tell us more about their joint venture TrueFX, an award winning purpose built FX OTC venue that was launched late last year....show more

How does trading infrastructure achieve ultra-low latency?

Trading Operations

Latency has been a hot topic in financial markets since the rise of high-frequency trading in the early 2000s. Low latency has been replaced with ultra-low latency (ULL) in liquid markets as technology has slashed tick-to-trade latencies below one microsecond...show more

 

Machine learning stirs up competition in FX Algo Trading

Technology

By crunching vast quantities of data by computer, machine learning algorithms can identify hidden patterns in past data and learn to forecast stock market returns or FX currency pairs. Large banks have been investing millions into advanced technologies...show more

 

When, not if – we will see more electronic platforms and increasing institutional demand for digital assets

Blockchain and CryptoCurrencies

Even allowing for a certain amount of hype, there is plenty of evidence that institutions are showing increasing interest in investing in digital assets. As yet however, the e-infrastructure to support them is fragmented and imperfect. Richard Willsher investigates....show more

 

Decentralized Liquidity is the backbone of DeFi

Blockchain and CryptoCurrencies

Algorithmic-based smart contract liquidity pools such as Ethereum’s Uniswap, or privacy-focused, off-chain decentralized exchanges such as Starkware’s StarkDEX are just two examples of projects leading the charge. Inbound/outbound liquidity is essential for the creation and growth of financial markets....show more

 

How to adapt and scale your brokerage business

FX Brokerage Operations

So things are ticking along quite nicely, and you are making money each month, but you feel in your bones that something is missing. Only a true entrepreneur would be mad enough to start their own business and live a life of uncertainty, risk, and, sometimes, reward. ...show more

 

Singapore A fast-changing FX landscape

Expert Opinion

It is now almost a year since the Bank for International Settlements (BIS) published its Triennial Central Bank Survey on Foreign Exchange turnover, which showed that Singapore had retained its position in third place behind London and New York...show more

Viewpoint

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Crystal ball gazing Predicting the evolution of electronic FX option platforms

Market Commentary

Over the past several years, we have seen a continuous migration of client FX flows away from voice channels to electronic delivery channels. Recent surveys would suggest that +/- 80% linear products are now executed electronically...show more

 

Non-deliverable options clearing from LCH

Product Launch

As LCH’s ForexClear is about to start clearing non-deliverable foreign exchange options (NDOs) we asked Kah Yang Chong, Head of ForexClear Product, Europe, the Middle East and Africa, to tell us more about this initiative....show more

Devexperts With Evgeny Sorokin, SVP of Software Engineering

e-Forex Interview

Talking with Evgeny Sorokin, SVP of Software Engineering at Devexperts: The firm that’s a techology launch pad for brokers of all sizes....show more

 

Empowering your sales team How banks can leverage new technology to overcome the risks and constraints of Covid-19

Technology

FX salespeople of the world, unite! Rise up, resist the tyranny of trading technology spend. Wave your laptops and mobiles in the air, thump your kitchen tables or wherever you happen to be home-working and demand, “Give us the tools to be able to do our jobs and cover clients as they deserve!”...show more

 

GCEX Bridging the gap between traditional finance and digital assets

Provider Profile

GCEX is a technology-agnostic platform, allowing brokers, funds and other professional traders to access deep liquidity in all the markets it offers. We spoke to CEO, Lars Holst, CFA, to discover more about the firm and how it intends to lead the next phase of financial digitalisation....show more

Examining remote working risks in FICC markets

Trading Operations

The FICC Markets Standards Board Limited (FMSB) recently published a Spotlight Review focusing on the risks associated with remote working in FICC markets. We republish this....show more

FX Options Embracing the potential of platforms

Viewpoint

Regulatory requirements, clients’ drive for efficiency, and the experience of working from home during the COVID-19 pandemic are spurring a shift of FX option activity to platforms....show more

 

FXLIQUIDITY Providing the FX market with the insights that it needs

Case Study

Matthew Hodgson, CEO and Founder of Mosaic Smart Data discusses FXLIQUIDITY, a collaborative project set up between Mosaic Smart Data, CLS and MUFG, delivering free FX liquidity insights to the market in response to the COVID-19 related market turmoil. ...show more

 

The new landscape in Foreign Exchange

Expert Opinion

David Woolcock, Director, Business Consulting at Eurobase Banking, tells us why now, more than ever, integrating treasury and trading operations is helping banks and payment firms navigate the new landscape....show more

 

Risk Old and New - Crypto has a lot to learn and some things to teach

Blockchain and CryptoCurrencies

Digital assets are part of a broader class of financial innovations and arguably originated in e-money and credit card projects in the 1990s. However, a balance of your funds digitised, and accessed through even an ATM for cash, could also make it a ‘digital asset’. Computer-based representations of real-world assets are currently reimagined using tokens and smart contracts....show more

 

Is direct access to classic Tier One liquidity truly the Holy Grail for brokers?

FX Brokerage Operations

Any broker who is serious about delivering a high-quality trading experience for customers has to be prioritising liquidity. But in a world where the number of brokerages continues to grow, whilst direct access to Prime Broker accounts becomes ever more difficult, how are...show more

 

How the right Client Portal can impact your brokerage

FX Brokerage Operations

There are thousands of investment firms registered globally, and more are popping up every day. With such a massive pool of brokers to choose from, your prospects are looking for the “best”. ...show more

FX Regtech adapts to WFH

Reg Tech

Mike Harriss, Head of Partnerships at TruNarrative, talks to e-Forex about working from home, the rise in digital onboarding, and how his firm is working with FX businesses to meet their needs....show more

 

Technology - Helping to change the face of FX research

Technology

With an average of $6.6 trillion of trades per day, Forex markets underpin many investments and all international capital flows....show more

 

Helping clients to competitively and efficiently access global markets

Platform Profile

Edgewater Markets is a leading technology-driven market leader in workflow management and execution services. We asked Matt Kassel, Chief Operating Officer of the company to tell us more about the firm and the unique platforms it operates...show more

Invast Global The emerging face of unique liquidity

e-Forex Interview

Multi asset Prime Brokerage Invast Global has merged many decades of experience in the Japanese domestic online broking industry with some of the sharpest institutional brokerage executives in the industry, to build a multi asset liquidity offering for online brokers which has won awards across the globe – and a growing legion of loyal clients....show more

 

Automation and Volatility: What did we learn?

Expert Opinion

I would argue that real money firms learn less about the efficiency of their workflows and the performance of their technology during quiet markets, when the overall cost of trading is low, than they do during stressed market conditions when volatility suddenly spikes...show more

 

E-FX accelerates Down Under

Regional eFX Perspective

Electronic FX trading in the Australian market had already migrated substantially to e-platforms. Covid 19 has boosted the trend, writes Richard Willsher....show more

 

Leverage caps - ASIC releases submissions to its Consultation Paper

Regional eFX Perspective

Quinn Perrott and Sophie Gerber report on how the industry has responded to the release by ASIC of Consultation Paper 322....show more

 

Unlocking the full potential of electronic FX Option platforms

Trading & Technology Clinic

By John Stead, Global Head of PreSales at smartTrade Technologies...show more

 

How Tools for Brokers has undergone a major business transformation in the middle of economic crisis and stayed profitable

Sponsored Statement

The history of Tools for Brokers (TFB) began 10 years ago when the world and the Forex market both looked very different compared to today. Back then, there was less competition, less regulation, and most definitely less understanding of the best way to move forward....show more

 

Crypto-Derivatives Market Evolution: Where we are, and where we need to be

Blockchain and CryptoCurrencies

The cryptocurrency derivatives market has as many specific attributes as the cryptocurrency spot market. Namely, they feature developed decentralisation, largely unregulated platforms and diverse instrument specifications...show more

 

CMC MARKETS - Talking with the magicians of liquidity

Provider Profile

CMC Markets institutional suite provides top class liquidity services across multiple asset classes. The company offers a flexible approach so that clients can connect to its liquidity by using either proprietary trading platforms, or via third-party technology. We talked to Richard Elston, Group Head of Institutional at the firm to tell us more....show more

 

FXPB meets Covid-19: How resilient was your trusted Prime Broker during the crisis?

ALGOFX LAB

Nicholas Pratt investigates how well Prime Brokerages have passed the tests and overcome the challenges posed by the pandemic....show more