e-Forex Magazine April 2014

e-Forex Magazine April 2014

e-Forex Magazine April 2014.
Cryptocurrencies- Threats and opportunities with digital mediums of exchange.
Banks and the Buy-Side - New developments in electronic FX client services.
Execution Algorithms - Where innovation is driving demand in FX.
FX

 

Cryptocurrencies: threats and opportunities with digital mediums of exchange

Leader

Cryptocurrencies are a confidence trick. Their valuations express a market view and very little else; certainly not reference to a store of intrinsic value. But the same could be said of US Dollars, Sterling or any other fiat currency. Whether you put your trust in dollar bills, credit cards or discrete little chunks of code, you’re not buying exposure to a gold standard. We can all kick cans down the road, but can we define the term “reserve currency” without feeling a little uneasy?...show more

 

As e-FX market matures, incremental growth driven by smaller institutions

e-FX Industry Report

Electronic foreign exchange (e-FX) trading is maturing. Among many of the large institutions that generate the bulk of FX trading volume around the world, the rapid uptake and growth that have characterized this industry for the past decade show signs of slowing. But the e-FX market has not yet lost its dynamism. Instead, electronic trading is simply making new headway among smaller FX players and the market’s most active traders. ...show more

 

Foreign Exchange facing a world of uncertainties

Foreword

At the end of February I had the opportunity to participate at the ‘Bretton Woods @ 70 – Regaining Control of the International Monetary System’ conference in Vienna. The meeting was jointly hosted by the Reinventing Bretton Woods Committee, the Austrian Federal Ministry of Finance and by the Oesterreichische Nationalbank. ...show more

 

EMIR Trade Reporting just one step in a long term process

Market Infrastructure

While reporting went live in February it is just one part of an ongoing process. Frances Faulds talks to several industry players about what’s on offer....show more

 

C&EE

Currency Clips

Solid fundamentals favor the zloty...show more

 

Scandinavia

Currency Clips

A backdrop of falling inflation...show more

 

EM currency turmoil leads to increased ME flow

Currency Clips

Max Knudsen Chief Market Strategist at ADS Securities...show more

 

A view from Asia - Q1 2014

Currency Clips

The current view from Asia is driven by macro factors such as US tapering policy, recovery in the economies of key Western countries, and the risk that growing concerns of a Chinese slowdown negatively impact appetite for the region. ...show more

 

Disruptive technology, feeds and the cloud. The new way ahead for FX Market Data distribution

Market Data

The growth of electronic trading in global FX has revolutionised the way that market data is distributed and used. But, as Caroline Henshaw discovers, with big data comes big responsibility: stricter regulation, the increasing focus on internal risk processes and cost control mean clients are expecting providers to deliver more for less. In the face of these challenges, disruptive technologies are forging a new path in increasingly competitive markets....show more

 

FXone where product innovation meets best practice

Provider Profile

e-Forex talks with Rosario M. Ingargiola, President and Chief Executive Officer of FXone Seabury Financial Solutions (SFS)....show more

Morgan Stanley Matrix pushes new boundaries

Platform Profile

Morgan Stanley’s focus on delivering market-leading quantitative analysis tools through its fixed income e-commerce platform started to pay dividends last year. Facing stricter regulations and tighter profit margins, a growing spectrum of clients are using Matrix’s advanced functionality for unrivalled pre and post-trade transparency and to enter the world of algorithmic trading. Caroline Henshaw spoke to David Wright, head of FX electronic distribution and product development in Europe & the US, and Pete Eggleston, head of Quantitative Solutions and Innovations (QSI), about how the bank is tailoring its unique tool set to the needs of its clients....show more

 

North America

Regional eFX Perspective

Two key trends have characterised recent developments in electronic trading across North America’s foreign exchange markets: the rise of the Mexican peso and the need for transparency in order to meet regulatory demands....show more

 

Choice, Consolidation, Customisation. Picking the winners in the FX Aggregation race

Special Report

One might think that an aggregation service is a numbers-based business. The more providers that are on the platform the better, and the cheaper the costs, the better. However it is increasingly being viewed as primarily a relationship-based service by the many providers in the market. Against that backdrop Nicholas Pratt sets out to discover what exactly defines a good relationship, how it manifests itself through the technology employed in a liquidity management service and whether it is really possible to find a middle path that satisfies both liquidity providers (LPs) and liquidity takers....show more

 

New players, strategies and opportunities. An exciting future awaits for social forex trading

Retail FX trading

Social trading in forex is becoming ever more established in the retail world, and is even becoming a useful tool for more experienced traders looking to exploit the knowledge of the masses to improve their strategies. Heather McLean explores how this innovative area is seeing the development of new functionalities and toolsets to improve the trading experience for all, leading to an exciting future of opportunity....show more

 

Banks and the Buyside: New developments in electronic FX client services

FX e-Commerce and Platforms

While tier one banks may have led the way in the development of singe dealer platforms (SDP) the need to compete, innovations in software and the demand for customisation have increasingly led many other providers to build their own, agile and effective platforms. Richard Willsher investigates....show more

 

Execution algorithms. Where innovation is driving demand in FX

Algorithmic FX Trading

William Essex explores which FX buy side sectors are now becoming the biggest users of execution algorithms and in what ways the focus on transaction cost analysis in FX is further stimulating the use of algorithms as a key component of best-execution toolsets....show more

 

What does the future hold for Multi-Dealer platforms in FX?

Debate

With Roger Rutherford, Chief Operating Officer, ParFX, Paul Tivnann, Global Head of FX and Commodities Electronic Trading at Bloomberg and John Miesner, Managing Director, Head of Global Sales, KCG Hotspot...show more

 

Prime Brokerage. Your gateway to the interbank FX markets

FX Brokerage Operations

Prime brokerage is proving to be a popular model with institutional FX trading firms so Nicholas Pratt asks what the attraction is and how prime brokers are helping clients to leverage the benefits of their services....show more

 

Adopting smarter go-to market strategies with FX White Label Services

FX Brokerage Operations

As new firms enter the FX market, their need for technology, infrastructure and expertise is encouraging them to buy into the white label service model. Nicholas Pratt examines what they should look for from a potential provider....show more

 

One size no longer fits all. The welcome arrival of more tailored institutional forex software services

FX Brokerage Operations

When the forex industry began to look at technology as a way to make more money, faster, and to stay ahead of the markets and the competition, an ‘out of the box’ or ‘off the shelf’ approach to technological solutions was the way to go. Today, as Heather McLean discovers, that idea is losing its appeal as a more tailored approach and a desire for differentiation in the marketplace, takes precedent. ...show more

 

Pathways for achieving higher speed FX connectivity

Networks, Hosting and Connectivity

The increased adoption of Algorithmic FX trading coupled with the growth of currency trading On Exchanges and the launch on new ECNs is making connectivity a much more complex and potentially costly issue for trading firms wanting to link into increasingly numerous sources of FX liquidity. Dan Barnes explores some of the issues....show more

RMB Delegation to China & Taiwan - January 2014

Recent Events

It was my great pleasure to join Alderman Fiona Woolf on her trip to Hong Kong and Taipei this January as a part of the City of London RMB Initiative....show more

EMFX Conference - Singapore - February 18th - Marina Bay Sand

Recent Events

Leading on from the success of the soon to be repeated London event - February saw the second instalment of the EMFX conference, this time in Singapore....show more

 

iFXexpo - Macau – Jan 2014 - Venetian Hotel

Recent Events

What happens in Macau? … Isn’t going to stay in Macau ...show more

 

MFX Compass for the next generation of e-FX

Product Launch

MahiFX, the foreign exchange technology provider, has recently announced the launch of MFX Compass, its comprehensive electronic FX trading technology for institutional clients. ...show more

Check-lists to consider for selecting an FX broker

Expert Opinion

By Marc Burki, CEO of Swissquote Bank...show more

 

In the Chair

In the chair

e-Forex talks to Fabrice Benouaich, CEO of Olfa Trade about the key role technology now plays in helping forex brokers to meet the challenges of running their trading operations...show more

 

With Philippe Ghanem at ADS Securities

e-Forex Interview

e-Forex talks with Philippe Ghanem who is building a Middle Eastern FX powerhouse in Abu Dhabi...show more

 

Made in Hong Kong. Interview with Rickey Cheung Algo Trader and Mentor

Tradertalk

Recently, our roving “forex photo-journalist”, Larry Levy, met up with automated trader Rickey Cheung in Hong Kong to learn more about the local legend. Here are Larry’s photographs and his interview with Rickey....show more

 

Safe, secure and efficient capturing the real benefits of On-Exchange FX trading

FX on Exchanges

The impact of the regulatory changes will stretch beyond just the products that fall under mandatory clearing. Frances Faulds looks at how the exchanges are becoming more attractive to FX traders and how they are preparing for future growth....show more

 

CFH Clearing: A clear route to success

Sponsored Statement

With its strong heritage, tailor-made liquidity, innovative technology and growing global client base, CFH Clearing is widely recognised as one of the world’s leading Prime of Prime brokerages. We speak to Lars Holst, CEO of CFH Clearing, to find out more about the company’s successes and the benefits it offers to clients....show more

How to run an efficient brokerage without in-house IT expertise

Sponsored Statement

Many brokers do not have an in-house IT team or the required IT infrastructure to manage their trading environment. Tom Higgins, CEO of Gold-i, the global market leader in trading systems integration, explains the range of technology outsourcing options available which enable these brokers to run efficiently....show more