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e-Forex Magazine April 2002
e-Forex magazine, April 2002, issue 6, e-FX, Prime Brokerage, ABN AMRO
Countdown to MiFID II. FX gears up for impending new regulation
Leader
Whether or not MiFID II/MIFIR is delayed remains to be seen, but as Frances Faulds reports, the industry is still grappling with a January 2017 deadline to get the systems in place for the biggest regulatory shake-up of the FX, derivatives and commodities markets....show more
FEMR – a watershed moment for FX?
Leader
At present the Fair and Effective Markets Review (FEMR) has produced just a report. But what might it achieve over the longer term for foreign exchange markets? Richard Willsher investigates....show more
Six months on – what has been the real impact of the SNB event?
Leader
Bryan Seegers, Head of eFX and Pricing, ADS Securities looks at the wider implications of the Swiss National Bank (SNB) removing its trading floor of 1.20 franc per euro and how the industry is adapting to the longer term issues accelerated by the Swiss National Bank (SNB) actions....show more
Why FX needs better policy synchronisation and trading transparency
Leader
Uncertainty over the future course of regulation and whether more trading malpractice may come to light are continuing to cloud the foreign exchange market. Which is why better policy synchronisation and improved trading transparency are demanding attention....show more
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
2012 - OTC FX Clearing moves to centre stage
Leader
Lack of clarity about the extent of mandatory regulation for over the counter foreign exchange (OTCFX) derivatives persists but 2012 should bring greater definition and guidance to those in the market. Meanwhile, Richard Willsher reports on how exchanges, clearing houses and service providers are setting their strategies and gearing up their technology for the opportunities that may emerge. ...show more
Relationship versus anonymous FX trading - the old debate returns
Leader
The debate about whether relationship trading or anonymous trading is superior is perennial, but now is an opportune time to revisit the methods' relative merits. The emerging competitive electronic trading platforms for the interdealer, multi-dealer, and dealer client markets have facilitated the adoption of electronic trading and the ability to trade anonymously during this decade. This article discusses a number of critical risk and regulatory outcomes from the current financial crisis that focus on the deployment of relationship trading vs. anonymous FX trading. ...show more
LEADER: FX E-commerce and the buy-side: OTC forever?
Leader
Marshall Bailey discusses how the FX market is evolving and how FX e-commerce is changing the profitability model dramatically for all....show more
eFX - facilitating convergence and alliance across the FX industry
Leader
- facilitating convergence and alliance across the FX industry...show more
Restoring trust in global FX markets
e-FX Industry Report
An exclusive report and survey carried out by LMAX Exchange goes right to the heart of what is wrong with the FX market and what needs to be done if it is to regain the trust it has lost among customers. e-Forex summarises some of the findings....show more
Multi-Dealer Platforms to gain ground in 2015
e-FX Industry Report
Foreign-exchange users and dealers can expect a significant shift in trading activity to multi-dealer platforms from telephone voice execution and, potentially, from single-dealer systems. ...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
Business as usual: FX trading platforms help to achieve more with less
e-FX Industry Report
The current economic situation is unique for a combination of reasons, but one of the most prominent is the combination of a commercial slowdown with an exceptional decline in many bank balance sheets. While this has numerous implications, the effect on global FX trading volumes is particularly conspicuous. Andy Webb explains how FX trading platforms have a duty in such an environment to assist participants in achieving more with less. ...show more
INDUSTRY REPORT: Consolidation: threat or opportunity for FX execution venues?
e-FX Industry Report
Thomas Price outlines why as the FX marketplace is maturing we can expect a consolidation of the myriad FX execution venues to occur over the next two to three years....show more
LOOK-BACK 2004 - e-forex: the second wave breaks
e-FX Industry Report
e-forex: the second wave breaks...show more
Dresdner Kleinwort becomes EBS Prime bank
News
...show more
C-View implements Harmonyâ„¢ Reconciliation Service
News
...show more
MIG relocates to larger facility
News
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Smart Trade offers further integration
News
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Spot Trader launches Meta Trader 4
News
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Handelsbanken adds CRM Finance©
News
...show more
FXall partners with Russian banks
News
...show more
Eurobase wins further project with Standard Chartered Bank
News
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iBoxxFX launches new family of currency indices
News
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Cognotec wins again
News
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Dukascopy launches SWFX – Swiss FX Marketplace
News
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ACM launches Advanced Mobile Trader facility
News
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RBS FiX significantly upgraded
News
...show more
Syndera introduces Electronic Trading Intelligence for FX
News
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ForexManage releases new Online Dealing Executable in Chinese
News
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Aspen Hedge integrates with Citco Fund Services
News
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Rabobank relaunches its official website
News
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Patsystems provides CFETS with front-end trading platform
News
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GFT Global Markets offers Market Prediction service
News
...show more
Wall Street Systems expands eOperations capabilities
News
...show more
Lava Trading launches Timeslice feature
News
...show more
BBH enhances FX OrderView®
News
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D-3 Pricing System now with Streaming API
News
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CME expands e-trading hours for FX Options
News
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New version of Nordea e-Markets
News
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JPMorgan unveils new enhancements to JPMorgan eXpress FX
News
...show more
Currenex delivers OpenSTP/FX
News
...show more
UBS offers PTS Portal
News
...show more
Integral hires Dominic Gattuso
News
Integral hires Dominic Gattuso...show more
Hotspot FX debuts FIX Gateway with access via RealTick
News
Hotspot FX debuts FIX Gateway with access via RealTick...show more
Cognotec recognised by industry awards
News
Cognotec recognised by industry awards...show more
BOI Selects Summit for Credit Derivatives
News
BOI Selects Summit for Credit Derivatives...show more
Top FX banks join 360T
News
Top FX banks join 360T...show more
Currenex® now offers CitiFX® Benchmark pricing
News
Currenex® now offers CitiFX® Benchmark pricing...show more
HSBC introduces Online Charting Service
News
HSBC introduces Online Charting Service...show more
Lava launches innovative FX Product Suite
News
Lava launches innovative FX Product Suite...show more
SuperDerivatives enhances SD-FX option pricing system
News
SuperDerivatives enhances SD-FX option pricing system...show more
GNI Touch Forex sees month-by-month growth
News
GNI Touch Forex sees month-by-month growth...show more
CLS has significant impact on trading practices
News
CLS has significant impact on trading practices...show more
EBS Spot hits deals per minute record
News
EBS Spot hits deals per minute record...show more
Nordea e-Markets goes live on Reuters RET system
News
Nordea e-Markets goes live on Reuters RET system...show more
Chohung Bank chooses Fenics FX
News
Chohung Bank chooses Fenics FX...show more
Global Link rolls out Trade Manager
News
Global Link rolls out Trade Manager...show more
UFJ goes global with Sierra FX Options
News
UFJ goes global with Sierra FX Options...show more
ACM adds new currency pairs
News
ACM adds new currency pairs...show more
Handelsbanken
News
Handelsbanken...show more
Saxo Bank launches lower prices
News
Saxo Bank launches lower prices...show more
FXpress releases FIRSTâ„¢ treasury workstation
News
FXpress releases FIRSTâ„¢ treasury workstation...show more
RBS selects Caplin for FX trading portal
News
RBS selects Caplin for FX trading portal...show more
Telerate enhances Active8
News
Telerate enhances Active8...show more
Global Forex Trading introduces Facilitated Systems
News
Global Forex Trading introduces Facilitated Systems...show more
Barclays Capital becomes an EBS Prime Bank
News
Barclays Capital becomes an EBS Prime Bank...show more
Reuters launches new live price feed
News
Reuters launches new live price feed...show more
SEB’s Trading Station opens up new e-FX possibilities
News
SEB’s Trading Station opens up new e-FX possibilities...show more
Traiana TRMâ„¢ selected by ABN AMRO
News
Traiana TRMâ„¢ selected by ABN AMRO...show more
Currenex available to RealTick customers
News
Currenex available to RealTick customers...show more
EBS Prime banks expand offering to PTC
News
EBS Prime banks expand offering to PTC...show more
JPMorgan launches TransFix Benchmarking product
News
JPMorgan launches TransFix Benchmarking product...show more
Bloomberg and Cognotec to deliver Streaming Rates
News
Bloomberg and Cognotec to deliver Streaming Rates...show more
Five more banks join Fxall
News
Five more banks join Fxall...show more
A open letter to e-Forex readers
Foreword
Dear Reader, since my last contribution to this magazine I am pleased to report that we have made some unbelievably positive progress in our effort to help the markets industry on ethical conduct. ...show more
The road away from perdition, and the end of “Constructive Ambiguity”
Foreword
As I travel to meet senior bankers and regulators around the world, the conversation often turns personal. Yes, the agenda can be to discuss how to fix the industry, and providing industry-wide, global solutions to the FICC conduct challenges. The pros and cons of “hard legislation” in response to recent misdemeanours that have occurred is often discussed, but so is an acknowledgement that, despite the best efforts of regulators, the discrepancies and lack of harmonisation in rules is leading to unintended consequences and unclear expectations regarding behaviour and ethics. Thankfully, the industry is coalescing around a few central frameworks....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
Currency War or simply country debts out of control?
Foreword
'Sovereign downgrade could hit eurozone lenders' was a headline in the Financial Times which I recently read on my flight back from a Bucharest meeting with local traders and representatives from the BNR – the National Bank of Romania. Standard & Poor had warned in this edition that it was looking to downgrade fifteen Eurozone country’s sovereign debt! Having just re-rated 37 global banks a week ago, whereby seventeen of them subsequently became downgraded, this outlook was the next shock to the financial markets in particular to the Eurozone. Such announcements are certainly nurturing volatility in all market segments, including Foreign Exchange. But is there any reason or pattern behind them? ...show more
Currencies in movement – ever heard about the ‘Khaleeji’ project?
Foreword
Manfred Wiebogen looks at how the economic impact of globalisation together with the current financial crisis may demand some reorganisation in the world currency structure. ...show more
Retail participation in the FX markets: a challenge for the regulators and a threat to our jobs?
Foreword
Godfried De Vidts looks at the advantages that the FX market offers retail investors....show more
The electronic challenge for ACI
Foreword
The electronic challenge for ACI – The Financial Markets Association...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
Market themes for 2016
Currency Clips
Thinking about the direction of currencies in 2016, we have to start with the question: what will be the main themes likely to persist throughout the year? The past year was dominated by fears about global growth, particularly China; the decline in commodity prices, particularly oil; and the denouement of policy divergence between the US and the rest of the world, particularly the EU. ...show more
Middle East update
Currency Clips
Investors in the Middle East are looking for further weakness in the Euro against the major currencies and especially against the US Dollar (USD). Although it has been a choppy ride, the consensus, looking at the open positions, is for further declines towards the parity with the USD. ...show more
Brazil – the year ahead
Currency Clips
Last time, I looked at the impact of events in China on LATAM currencies, but as we enter a new year and a likely Fed tightening, it's worth taking a step back and a look at what the coming year may hold. ...show more
Weak GCC equities pushing investors to FX
Currency Clips
By Noureldeen Al Hammoury Chief Market Strategist at ADS Securities...show more
The LATAM split
Currency Clips
By Simon Smith Chief Economist at FxPro...show more
IMF calls again for Greece debt relief
Currency Clips
Yann Quelenn Market Strategist at Swissquote Bank SA...show more
Can Singapore Dollar sustain Parity Exchange Rate with the Australian Dollar?
Currency Clips
By Kenneth Tan Forex manager at Phillip Futures...show more
Middle East Currency Update
Currency Clips
By Noureldeen Al Hammoury Chief Market Strategist at ADS Securities...show more
The LATAM split
Currency Clips
By Simon Smith Chief Economist at FxPro...show more
How much will the ECB and the IMF compromise?
Currency Clips
By Yann Quelenn Market Strategist at Swissquote ...show more
Malaysia's inflation under control
Currency Clips
By Daniel Ang investment analyst at Phillip Futures...show more
EUR on the top of ME traders List
Currency Clips
By Noureldeen Al Hammoury Chief Market Strategist at ADS Securities...show more
Latam currencies - domestic factors to determine winners and losers
Currency Clips
By Simon Smith Chief Economist at FxPro...show more
A weaker Euro to save Europe
Currency Clips
By Peter Rosenstreich Head of Market Strategy at Swissquote...show more
A Look at the Malaysian Ringgit
Currency Clips
By Kwah Wee Hong Forex Dealer, Phillip Futures...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
Crédit Agricole Corporate and Investment Bank Delivering high quality FX execution and very competitive pricing
Provider Profile
Crédit Agricole CIB is a leading market maker on the foreign exchange and precious metals market and offers a full range of spot, forward, option-based and derivative foreign exchange and precious metal products. e-Forex talks with Stamos Fokianos, Global Head of eBusiness, about the range of FX services the bank now offers, its growing electronic trading product suite and future plans for building on its comprehensive FX e-commerce capabilities....show more
Catching Up With Seabury FXone
Provider Profile
With Rosario M. Ingargiola, President and Chief Executive Officer of Seabury FXone ...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
Pre-settlement processing - A new initiative from CLS and ICAP
Marketplace
CLS Group and interdealer broker, ICAP, are creating a new joint venture (JV) to provide trade aggregation services to participants active in the over the counter FX market. The new business, initially named CLS Aggregation, is designed to address the rapid increase in foreign exchange trading as an asset class by a widening group of hedge funds, algorithmic traders, retail and institutional market participants, which have brought substantially higher volumes to the foreign exchange industry....show more
MARKETPLACE
Marketplace
Alain Broyon and Dr. Andre Duka discuss: Fight for Liquidity: Centralization versus Decentralization...show more
The Foreign Legion gains new recruits
Marketplace
The Foreign Legion gains new recruits...show more
Where to draw the line on the issue of leverage
Regulatory Roundup
In this Regulatory Roundup feature Felix Shipkevich, General Counsel at CMS Forex, examines the question of leverage and what factors may influence the way regulators draw the line of what is the appropriate level of leverage that should be allowed to be used by retail clients, if any. ...show more
The 2011 Lab49 FX Platform survey results What the buy-side really wants in their SDP
Features
The results are now in from the buy-side. The 2011 Lab49 FX Platform Survey reveals what single dealer platform users really want from their FX trading platforms....show more
Modelling the FX trading environment with intelligent analytics
Features
Analytics are the basis of any trading strategy. This is, of course, an obvious statement but, as Nicholas Pratt reports in this feature, the realisation that a more intelligent approach to the use of analytics leads to a more intelligent trading strategy is increasingly apparent in the FX world. ...show more
Transparency, flexibility and liquidity - redefining standards in electronic FX options
Features
As the FX industry enters into a new era of electronic trading for FX options, Frances Maguire examines the key role that technology is playing in the provision of new and additional services whilst redefining standards in the way these instruments are traded....show more
Social Media – helping to facilitate FX workflows across all channels
Features
As a global market operating at almost every waking hour, FX has always been highly attuned to the flow of information, ideas and news. It should then come as no surprise that institutional FX firms and traders are starting to explore the new possibilities that social media communication tools bring. Joe Morgan investigates what these are....show more
Building momentum Flagging new CEP initiatives within FX
Features
With Complex Event Processing (CEP) having spread out across the asset classes – initially in equities – multiple and growing demands for using CEP in the FX space are being made among both sell-side and buy-side firms. Roger Aitken canvasses leading CEP vendors and others on the landscape. ...show more
Optimising workflows: Asset Managers embrace the benefits of e-FX
Features
While there is little doubt that investment managers are rapidly increasing their use of electronic trading, there is still much to be done in terms of standardising access and processes to enable them to reap the full benefits of automation....show more
Time for a new trend in customer-software vendor relationships?
Features
Joe Locke offers an insight into considerations that a bank must give in selecting the right technology vendor and a view on what may well be a new era for customer and software vendor relationships....show more
STP in FX: catching up with front end trading?
Features
Nick Dyne looks at how post trade functions are being dramatically improved from an STP viewpoint and what post-trade e-FX innovations we are likely to see in the near future....show more
e-FX: helping to ease the treasury burden
Features
Francis Maguire sets out to discover why the majority of the corporate treasury community is still not taking full advantage of the range of benefits that e-FX brings....show more
Next moves in the e-FX treasury environment
Features
Francis Maguire examines what large multi-nationals and mid-sized companies are looking for from e-FX and what banks are doing to future-proof their systems....show more
The CME as a liquidity and pricing source
Features
Paul Ronan and Nicholas Hodder examine the challenges that need to be addressed when including new liquidity Pools such as the CME in your business model....show more
White Label Partnerships: Co-operation v. Competition
Features
White Label Partnerships: Co-operation v. Competition...show more
CLS: A Key Driver for STP
Features
CLS: A Key Driver for STP...show more
True Straight Through Processing in FX becomes feasible – the TWIST perspectiveStandards: business process focus and harmonisation
Features
True Straight Through Processing in FX becomes feasible – the TWIST perspective Standards: business process focus and harmonisation...show more
Fitting structured FX on e-trading platforms
Features
Fitting structured FX on e-trading platforms...show more
Benchmarking - Helping to reduce market footprints
Features
Benchmarking - Helping to reduce market footprints...show more
eFX - Helping to reduce operational pain points for the corporate client
Features
eFX - Helping to reduce operational pain points for the corporate client...show more
Overcoming resistance to e-FX:
Features
Overcoming resistance to e-FX:...show more
Secondary FX flows – the evolution continues
Features
Secondary FX flows – the evolution continues...show more
FX Liquidity – how do you find the right provider?
Liquidity Management
Nicholas Pratt examines the growing challenge of sourcing liquidity in today’s FX market and what steps trading firms can take to select the right providers....show more
BBVA eMarkets – easy to use, simple to deploy and an effective tool for price discovery, market analysis, trade execution and post- trade queries.
Platform Profile
Launched in 2013, Banco Bilbao Vizcaya Argentaria’s (BBVA) eMarkets is a next-generation e-commerce platform, initially focusing on FX and money markets, which enables corporate and institutional clients to execute a full range of FX transactions online in real-time, benefitting from a transparent and competitive pricing and the ability to make multiple related payments. ...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
Leveraging the network effect
CryptoCurrencies
Many banks have joined the consortium around R3’s initiative to design and deliver advanced distributed-ledger technologies to global financial markets. Charley Cooper, managing director, R3, spoke to William Essex about the way forward....show more
Bitcoin and the central-bank dilemma
CryptoCurrencies
...show more
Reputation, again, and the "underlying" obstacle
CryptoCurrencies
...show more
Who gave you permission?
CryptoCurrencies
...show more
Any colour so long as it’s open?
CryptoCurrencies
Richard Olsen ...show more
Follow the money! How else can we exploit the full potential of the blockchain?
CryptoCurrencies
Although William Essex believes that large parts of the FX industry have tried to disassociate the blockchain from Bitcoin he argues that ultimately this doesn’t matter as long as this potentially transformative technology is exploited to its full potential. ...show more
Building a better block-chain
CryptoCurrencies
Dan Connell, managing director, market structure and technology practice, Greenwich Associates, co-authored his firm’s report Bitcoin, the Block-chain and Their Impact on Institutional Capital Markets. He’s been watching the banks watching the block-chain. ...show more
Where’s the B? Can the Lego thinkers rebuild the block-chain without Bitcoin?
CryptoCurrencies
Here’s a thought-provoking idea. Bitcoin is the incentive that makes the block-chain work. ...show more
Crypto-Grentry, not Grexit, for Greece
CryptoCurrencies
There is a potential crypto-currency solution to the Greek debt crisis. Lee Gibson Grant, founder of Coinstructors and instigator of the Drachmae project (www.drachmae.com) speaks to William Essex....show more
Bitcoin versus block-chain – have we put the cart before the horse?
CryptoCurrencies
Whilst it’s true to say that block-chain applications can sometimes be developed without Bitcoin it isn’t always the case. William Essex discusses the implications this has for the role of crypto-currencies in FX....show more
Access and regulation
CryptoCurrencies
New York-based LedgerX is currently awaiting regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate the first US-regulated exchange and clearing house for trading bitcoin options. Paul Chou, CEO, LedgerX, spoke to William Essex about the company’s plans. ...show more
Block-chain, side-chain, FX-chain
CryptoCurrencies
An email conversation with the team at start-up Blockstream (“We transform global systems of value exchange that, by design, make it possible to trust anyone;” see www.blockstream.com) brought this fascinating account of how “side-chains” can be applied to physical asset transfers and the foreign exchange market....show more
Is Bitcoin really such a big deal? Weighing up the evidence
CryptoCurrencies
When you buy a bitcoin, you are buying a record of the fact that you own a bitcoin. Nothing more, nor less, than that. The bitcoin itself is an inalienable record of its own existence (see the box: How are bitcoins stolen?). In the long, cumulative record that is the Bitcoin block-chain, your bitcoin has made its mark – or, if we’re being scrupulously literal-minded, the act of “mining” (generating) your bitcoin was the act of scratching the long-playing record, since its mark will remain in place, through successive iterations of the block-chain, for as long as that globally distributed network endures....show more
The technology provider perspective
Regional eFX Perspective
Chris Davis, Managing Director of Broadridge FX and Liquidity (FXL) ...show more
Regional e-FX perspective on Asia: All eyes on the RMB
Regional eFX Perspective
The Chinese currency is the main subject of discussion among those involved in e-FX trading in the Far East....show more
Regional e-FX perspective on the Middle East
Regional eFX Perspective
The Middle East region presents a mixed picture of accelerating growth in technology but slower development in product offerings. Richard Willsher investigates....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
Regional e-FX perspective on South East Asia
Regional eFX Perspective
South East Asia’s increasing economic prosperity is driving growth in the region’s foreign exchange trading activity and, as Richard Willsher discovers, the regions electronic FX trading capabilities have accelerated even faster....show more
JAPAN
Regional eFX Perspective
Heather McLean profiles e-FX within the country....show more
OTC FX Clearing - spawning a new wave of technology innovation
FOCUS
The introduction of centralised clearing for OTC instruments is heralding a major re-engineering of technology. Trading infrastructures are being re-designed to support it and banks are investing in new systems to facilitate improved front to back-office transaction processing and risk management. Systems upgrades are also being undertaken to handle the new margining requirements and collateral management, Frances Maguire explores how all this activity is creating a demand for a new generation of trading and risk management systems, based upon innovative and highly scalable technology architectures, as clearing providers start thinking about how to differentiate their clearing offerings....show more
Reducing the risks: new perspectives on FX margin and collateral management
FOCUS
FX margin trading and the subsequent need to manage collateral has become very much in the spotlight in recent times as the cost of credit becomes more prohibitive and firms seek to squeeze greater efficiency from their bottom line....show more
Reconciling Multi-Party Trading Relationships
FOCUS
Jesse Drennan examines how automation of prime brokerage operations has created an IT overhead for fund managers and provides a solution to overcome the problem of competing protocols....show more
The Evolution of Prime Brokerage in Foreign Exchange
FOCUS
Stephen Swindon looks at how prime brokers are increasingly looking for ways to take a bigger share of the market and differentiate their offerings....show more
One size does not fit all: The need for bespoke FXPB solutions
FOCUS
Andy Coyne tells us why there are still a great many clients looking to their FX Prime Brokers to provide them with greater levels of support and value....show more
FXPB expectations: views from the client-side
FOCUS
A major driver for growth in FX prime brokerage has been the hedge fund community and Frances Maguire investigates what they are looking for from their prime brokers....show more
FX Prime Brokerage and Hedge Funds: assessing the value proposition
FOCUS
FXPB expectations: views from the client-side...show more
Challenges of Delivering Real-Time FX Risk & Performance Analysis
FOCUS
Rick Schumacher ...show more
Leveraging the Internet for Financial Markets with Real-Time, Streaming Market Data
FOCUS
Tim Kemp Technology Consultant, Caplin Systems Inc....show more
Resilient Networks - providing the foundation for real-time data transmission
FOCUS
Chris J Pickles Manager, Industry Relations, Radianz...show more
Yannos Hadjiioannou takes the strain out of submitting FX orders
The e-Forex Surgery
Yannos Hadjiioannou FX Product Development & Marketing, RBS Global Banking & Markets...show more
The e-Forex Surgery: Joining a Multi-bank Portal
The e-Forex Surgery
The e-Forex Surgery Helping to answer your ...show more
FXCM – poised for growth and focusing on core areas of strength in their Institutional services
Meet the team
e-Forex talks with Brandon Mulvihill, MD and Global Head of Institutional sales at FXCM....show more
Meet the team
Meet the team
FXSpotStream, a subsidiary of LiquidityMatch, was formed in late 2011. It is a bank owned consortium operating as a market utility, providing the infrastructure that facilitates a multibank API and GUI to route trades from clients to Liquidity Providers. We talk to their CEO Alan F. Schwarz, about the company’s ongoing expansion, key staff and future growth plans....show more
What’s causing the flight to quality in FX Prime Brokerage?
Special Report
Nicholas Pratt reviews the changes that have recently taken place in the FX prime brokerage market and what it means for trading firms....show more
Policies and Protocols - tackling cyber threats to FX trading operations
Special Report
Cyber attacks are increasing in both number and sophistication and no market is immune, including FX. Nicholas Pratt examines the nature of the threats and the work being done to limit the damage....show more
Filtering out the noise: Institutional FX desks move e-dealing and market intelligence onto a new level
Special Report
Nicholas Pratt examines ways in which leading institutional FX brokers are leveraging their e-dealing platforms and market intelligence services to meet the needs of clients....show more
Avoiding investment regret – assessing potential alternatives to PIT execution strategies in FX
Special Report
Following the recent recommendations from the Financial Stability Board, Frances Faulds looks at the perceived benefits and drawbacks of using the Fix, and what is most likely the way forward for the FX industry....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
Better education and more informed choices - helping to bring CFDs in from the cold
Retail FX trading
Traditionally, Contracts for Difference (CFDs) have been seen as a financial derivative class best suited to be used by very experienced and semi-professional traders, as opposed to the majority of retail FX market players. However, as Heather McLean discovers, that opinion is changing, as more retail traders decide to try out CFDs. ...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
Managed Fibre Networks - offering competitive advantages for high performance FX
Forex Technology
As the firestorms engulfing financial markets continue to captivate participants and observers alike, the activities of managed network service providers remain, appropriately, largely in the dark. The work of companies specialising in network infrastructure beneath the ground and sea is not likely to make the headlines in the financial or popular press at the moment. But, as Joe Morgan reports in this article, these businesses are at the nexus of the forces driving the development of an increasingly interconnected global financial system, driven in part by the growth of high-speed trading. The fibre optic cabling which links trading hubs together is of vital importance in FX, a global market where traders follow the rising sun to trade on different venues throughout the day....show more
Carrier Hotels: where FX checks in for co-location services
Forex Technology
The need for greater capacity and more efficiency of time to trade, otherwise known as latency, is becoming increasingly important for many FX market participants. Joe Morgan examines why growing numbers of globe-trotting FX trading firms are therefore checking in for co-location services, where specialist service providers’ host traders’ servers as close as possible to a trading platform’s matching engine. ...show more
Coming of age – has trading of the renminbi reached a pivotal point?
Currency Focus
Caroline Henshaw reports on the development of rapidly growing Renminbi hubs around the world where trading volumes are now starting to surge and explores the role e-banking and e-trading channels will play in facilitating the future development of the RMB market....show more
A powerful mix: regional FX providers combine high-tech trading with local currency expertise
FX e-Commerce and Platforms
Regional eFX providers are making a comeback in currency markets long dominated by the majors, as the myriad new, sophisticated technology solutions available has made them more competitive at a time when clients are increasingly seeking local expertise and dedicated service....show more
Moving technology and e-trading platforms to the centre of new FX client service models
FX e-Commerce and Platforms
With Illit Geller, CEO of Tradair, Harpal Sandhu, CEO of Integral Development Corp., Patrick Myles, CTO of Caplin Systems Ltd and David Woolcock, Global Head of Sales and Business Development at Eurobase International....show more
Survival of the Fittest – what’s coming next in the evolution of FX ECNs?
FX e-Commerce and Platforms
Electronic communication networks may be in the FX market sweet spot right now but Richard Willshire sets out to discover whether they can all survive....show more
Taking cost and complexity out of post-trade FX operations
FX e-Commerce and Platforms
Regulatory requirements are adding further cost and complexity to the FX back office so Frances Faulds reports on how the FIX Working Group and two of the industry’s leading technology providers are helping market participants to address the issues....show more
Delivering a more compelling user-centric experience with next generation SDP’s
FX e-Commerce and Platforms
Single Dealer Platforms are being re-engineered to position clients at the centre of a simpler, more precise and integrated cross-asset class trading environment. Frances Faulds talks to some of those behind these next generation systems....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
Improving Electronic Trading Effectiveness in
Spotlight
...show more
Spotlight - Building an online FX option presence
Spotlight
Michel Everaert Global Head of Product Marketing at GFI...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
FX Algos - the smartest new kids on the block?
Algorithmic FX Trading
The world of FX algorithmic trading continues to develop on all fronts. On a technical level the algos are increasingly sophisticated as developers bid to match the market’s appetite for lower latency, better performance and more complex trading strategies. And on a commercial level, providers continue to offer new algo trading services. Nicholas Pratt canvasses a leading technology vendor and two leading FX banks to see what we can expect to see in the algorithmic FX trading space during 2012....show more
Algo FX Case Study
Algorithmic FX Trading
Thomas Vinding, co-head of e-Markets at Nordea discusses the question of whether Algorithmic Trading can work in abnormal FX Markets....show more
Achieving more rapid Algorithmic FX trade strategy development
Algorithmic FX Trading
Time is money and nowhere can this truism be taken more literally than in the trading world. Algorithmic trading in FX has grown in order to sate the appetite for higher frequency, larger volume trading and more sophisticated strategies – all of which can be more easily achieved through the deployment of automated systems....show more
FX Recruitment: staffing up for the Algo revolution
Algorithmic FX Trading
Andy Barber looks at what the latest trends in electronic trading in FX are doing to the recruitment market....show more
CLS - delivering operational efficiencies for Algorithmic FX traders
Algorithmic FX Trading
Jonathan Butterfield looks at the opportunities that Algorithmic FX trading present to CLS and how CLS deliver operational efficiencies to Algorithmic traders....show more
62. FX Algorithms and their integration
Algorithmic FX Trading
FX order execution algorithms are already appearing in numbers, but plotting their future trajectory isn’t straightforward. Andy Webb talks to a number of major providers to gauge their views on the market....show more
Caught without a net? Why the big banks now need a netting solution for FX
Case Study
Increasing FX volumes are putting the strain on many back offices, so is the time now right for netting solution for global spot FX? Richard Brass investigates....show more
e-Forex talks with Hans van den Bosch, Head of treasury operations at Unilever in the Netherlands
Case Study
e-Forex talks with Hans van den Bosch, Head of treasury operations at Unilever in the Netherlands...show more
e-Forex talks with Dr. Ulrich Boettger, Senior Vice President, Treasury at BASF Aktiengesellschaft in Ludwigshafen, Germany
Case Study
e-Forex talks with Dr. Ulrich Boettger, Senior Vice President, Treasury at BASF Aktiengesellschaft in Ludwigshafen, Germany...show more
BrokerTalk puts the flow back into the market
Case Study
BrokerTalk puts the flow back into the market...show more
Hardwired: FX trading in a chip
Technology
When every microsecond counts cutting code into specialised hardware offers real time saving, but has standard chip evolution caught up? Dan Barnes weighs up the benefits of hardware-accelerated appliances for electronic FX trading applications....show more
Are you looking for smarter and faster FX Liquidity aggregation?
Technology
Technology is raising the bar in terms of smarter ways to aggregate connections to the large number of trade venues in the FX market. Frances Faulds talks to three leading providers to see what solutions are available....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
Factors to consider when choosing a white label partner
FX Brokerage Operations
According to Luis Sanchez, CEO of BMFN...show more
Widening your e-FX capabilities with a new generation of white labelling solutions
FX Brokerage Operations
Heather McLean discovers more about how white labelling solutions can assist retail FX brokers to quickly establish their online trading operations and why white label partnerships can prove a very attractive proposition....show more
Boosting your business with the next wave of retail FX brokerage technology
FX Brokerage Operations
In a business where your customers are multitudinous, fast moving, often inexperienced, and therefore sometimes quick to fail, standing out as a retail FX brokerage can be difficult. Heather McLean explores in what ways investing in their technology infrastructures can help retail FX brokers to more quickly achieve their business objectives including becoming the gateways of choice to world markets for their clients....show more
Taking a more centralised approach to risk management in retail FX brokerage activities
FX Brokerage Operations
Retail FX brokers face a plethora of challenges on a daily basis as they navigate the risks thrown at them by the markets across multiple front-ends, servers, clearing relationships and client segments. With major events such as the Swiss National Bank (SNB) debacle adding to the strain and even causing the collapse of some companies, Heather McLean discovers why it is now more important than ever for brokers to improve control of trading systems and better analyse, manage and hedge customer order flows in order to avoid being blindsided by unexpected market events. ...show more
Trust, Technology, Liquidity, Credit and Clearing power – what is happening to the building blocks of FX Prime Brokerage
FX Brokerage Operations
After years of struggling to adjust to the upheaval suffered during the global financial crisis, FX prime brokers are now facing another seismic shift after the SNB’s surprise move in January. But, for the best-of-breed players out there, this debacle has proved an opportunity. Caroline Henshaw investigates....show more
After the storm – what role did technology play in the SNB event?
FX Brokerage Operations
Following the carnage of the SNB event, Nicholas Pratt looks at the technology and the steps that brokers can take to protect themselves and their clients in the future....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
Dissecting Liquidity Aggregation
FX Mythbusters
By Rosario M. Ingargiola...show more
Cutting through the Cloud
FX Mythbusters
Howard Tolman, Director of Cloud Trading Technologies tackles some questions on the application of Cloud Computing services within the FX trading environment....show more
Regional expertise: focusing the strength of FX e-commerce services
e-Forex Roundtable
With Bjorn Lundvall, E-commerce Manager Trading, e-solutions at Handelsbanken Capital Markets, Niels.van.Daatselaar, Head Financial Markets e-Commerce at Rabobank International, Peter Hagenauer, head of eCommerce Applications & Technologies, Markets, ANZ Institutional, Stamos Fokianos, Global Head – eChannels, Financial Markets, Standard Chartered Bank and Clive Standish, Head of Electronic Markets Client Service, North America at RBS Global Banking & Markets. ...show more
Abn Amro, UBS, RBS Greenwich Capital and Deutsche Bank discuss: FXPB provision: differentiation through innovation
e-Forex Roundtable
...show more
Assessing the challenges facing eFX providers. With Westpac, Dresdner Kleinwort Wasserstein, Danske Bank, Abn Amro and Brown Brothers Harriman.
e-Forex Roundtable
...show more
FIX Adapted for STreaming - FASTsm Protocol.
Standards
Kevin Houstoun and Ken Yeadon provide an overview of the FIX protocol FAST initiative and It’s implications for the FX markets....show more
The evolution of FX electronic trading on the buy-side and factors driving change
Viewpoint
Roger McAvoy Institutional Sales Director, Asia, at 360T Trading Networks...show more
The SNB debacle – testing the metal of retail brokerage business models
Viewpoint
Luis Sanchez CEO of BMFN...show more
Fair Execution and Transparency in FX
Viewpoint
Foreign Exchange has been very much in the headlines in the last 12 months and rightly so: Too many problems and irregularities came to the surface, starting with the potential skewing of the 4pm fixing and more recently the lack of liquidity in the market after the SNB decision. Foreign Exchange has – once again – reached a point where the market will demand a better practice. This demand will be to not only access to the best price shown, but more towards the fastest and most reliable price available. Additionally it is also becoming increasingly important from a regulatory perspective to document best execution....show more
The Perfect Match: What to look for in Electronic FX Providers
Viewpoint
New and seasoned participants in the burgeoning foreign exchange (FX) market continue to leverage electronic trading platforms. Whether they are money managers in search of better fund performance or banks in need of cost-saving efficiencies, users are seeking particular electronic FX (e-FX) functionality and benefits. The best products and providers offer access to liquidity, improved cost and time efficiencies, better price transparency, greater stability, error reductions, enhanced auditability, and smooth integration with existing in-house systems....show more
Deploying an integrated cross-product hedge fund trading solution
Viewpoint
Farid A. Naib CEO, FNX Solutions...show more
Online trading in Emerging market currencies
Viewpoint
Viewpoint...show more
e-FX and Prime Brokerage - The ABN AMRO Experience
Viewpoint
- The ABN AMRO Experience...show more
Avoiding the pitfalls of launching a forex brokerage
Retail e-FX Provider
Heather McLean discovers that starting up a new electronic foreign exchange brokerage is a task littered with pitfalls, bear traps and electronic fences. However, approaching this entrepreneurial mission well researched means you will be well armed to overcome the problems and take the strategic decisions that lie ahead....show more
Minimising risks and maximising trading opportunities - exploring the benefits of financial trading ecosystems for FX
Networks, Hosting and Connectivity
Dan Barnes looks at how financial trading ecosystems have evolved, what services they can offer and the benefits they can deliver to a wide variety of FX market participants ....show more
Pathways to Asia - what are your FX connectivity options?
Networks, Hosting and Connectivity
Dan Barnes explores some of the characteristics of the foreign exchange markets across Asia and the key connectivity and infrastructure issues that FX firms need to consider in order to configure the best routes for accessing them....show more
Managed connectivity – the better way to access Emerging Market FX
Networks, Hosting and Connectivity
Dan Barnes reports on how market volatility has made flexibility and control of connectivity key for FX trading firms looking to access and leverage opportunities in emerging markets....show more
FX co-location: what’s fuelling the rush?
Networks, Hosting and Connectivity
The demand for co-location services is still booming despite the market’s maturity but, as Dan Barnes discovers, the detonation of the Swiss Franc cap in mid-January has necessitated some emergency packages for firms in trouble. ...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
ProTrader: “The One Trading Platform?”
Product Review
We review the ProTrader multi asset platform from PFSoft. ProTrader provides a complete solution for retail brokers, market makers and hedge funds. The platform supports a wide range of products and is based on the latest technology. Denis Borisovsky, CEO of PFSoft tells us more about it.....show more
CNY = Change Not Yet
Recent Events
A lot gets said about China joining the Special Drawing Rights – will they, won’t they? More likely when will they? With many pundits adding colour or distraction to the debate....show more
Narendra Modi - A Proper Brindian
Recent Events
In November it was my great pleasure to receive an invitation by the Lord Mayor and City of London to an address given by Prime Ministers Narendra Modi and David Cameron....show more
CNH = Change Now Here
Recent Events
I’m reliably told Gai Bain 更改 is the Chinese word for change. It’s not so much the concept of change that’s so apparent in RMB markets these days – but more the speed of it. Like the Shanghai sky line – its moving on up fast....show more
EM is all about Oil, China and the Fed
Recent Events
This event has been getting better and better lately and I was quietly surprised and impressed by both the quality of speakers and attendees this year. ...show more
Finance Magnates – London Summit
Recent Events
I recently had the opportunity to attend the Finance Magnates London Conference (FMLC). This is a renaming of the former Forex Magnates London Conference (‘FMLC’) which changed its name to reflect the greater diversity the Forex diaspora had produced....show more
3rd Annual FXIC
Recent Events
In addition to the networking opportunities everyone expects, this year’s FXIC New York, organizer Shift Forex, included a new feature—speed networking. During this speed-dating-style program, 20 companies and organizations including Nasdaq, Current Desk, Eurex, CME Group, TIBCO, FCM360 and Investing.com to name few, sponsored tables for five-minute attendee meetings during the morning and afternoon....show more
Will the Elephant overtake the Dragon?
Recent Events
In July this year both R5 and the UK Foreign Office bought together a roundtable of INR traders to meet with the Indian Ministry of Finance and discuss the big question – When or will India overtake China in the economic growth race? ...show more
There’s not a lot of coffee in Brazil…
Recent Events
July saw the bi-annual meeting of the Emerging Capital Markets Taskforce. An initiative from George Osborne’s office to help expand trading in EM markets in the City of London....show more
iFX Expo Cyprus, May 2015
Recent Events
The iFX Expo Cyprus is one of the most important B2B iFX exhibitions held for FX brokers, technology providers, and other service vendors and consultants to the retail FX industry. ...show more
Jakarta is Hot and has a lot of Traffic
Recent Events
“Jakarta is hot and has a lot of traffic” – such was a comment from the Finance Ministry when compared to the City of London on the Lord Mayor’s recent trip in May. ...show more
Sao Paulo comes to St Pauls
Recent Events
All eyes were on Brazil for the first Brazil Capital Markets Day in London last month. ...show more
Year of the Baaaaa - Singapore – London RMB Forum
Recent Events
I’m told in the North – 2015 is the Year of the Sheep, in the West the Year of the Ram and in the South - the Year of the Goat. There’s certainly no shortage of differing perspectives on the zodiac animal itself let alone what’s next for the RMB....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
Picking up speed: Retail FX focuses on delivering low latency trade execution
Retail e-FX Client
The demand for low latency trading has been a feature of the HFT equities markets for many years to the point where there is little room left to go in terms of seeking the quickest possible executions. Low latency has also become a feature of the institutional FX space and has been present for a number of years. More recently though there has been a growing demand for low latency execution from the retail FX trading space. Nicholas Pratt investigates why high frequency players are now increasingly interested in trading on retail FX platforms. ...show more
Hotspot’s London matching engine
Product Launch
In September 2015 Hotspot announced the successful launch of its new London FX matching engine. e-Forex caught up with Bill Goodbody, Head of FX at BATS Global Markets and asked him to tell us a little more about the venture....show more
Global Forex Pros – offering a fully independent service
Product Launch
Matthew Clark, Co-Founder and Director at Global Forex Pros, a forex education and analysis platform provider, talks to e-Forex about the launch of the company’s new website and service offering for FX brokers....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
Siena eTrader evo - the next generation of Single Dealer Platform
Product Launch
With trade volumes through single dealer platforms growing faster than multi-dealer platforms, Frances Maguire talks to Joe Locke, Operations Director, and Carl Martin, Banking Products Director, at Eurobase Banking Solutions about the launch of its new electronic trading platform – Siena eTrader evo®....show more
MilanFX - Electronic Block Trading comes to FX
Product Launch
Anand Iyer Vice President and co-head of Foreign Exchange at Flextrade...show more
2009 Forexds Awards : Breaking new ground in ranking FX brokers
Retail Forex Client
The recent release of the 2009 Forexds Trader’s Choice Awards provides a rare glimpse inside the broker preferences of average currency traders worldwide. Rather than making an article about yet another FX award, e-Forex magazine asked me to share the unique aspects of the Forexds Awards. For that, I’d like to share some personal thoughts going into this 2 year project and then delve into the results beyond what appeared in the May press release....show more
PROFILE – United World Capital
Retail Forex Client
e-Forex talks with Jamal Fakhory, Managing Director of United World Capital, a leading provider of online FX trading services for Retail and Institutional investors....show more
Traders checklist: Will your FX platform give you that edge?
Retail Forex Client
Before a trader can start making money in FX, they must first choose a trading platform from which to work. This is no simple or even relatively easy task such as deciding on a new car or a lawnmower. From broker, to type of service, to checklist of needs and wants, to individual trading style, the choices facing traders are varied and can be quite complex....show more
Innovation in Retail FX: Improving the client trading experience
Retail Forex Client
Heather Mclean talks to leading retail FX trading providers about the growing importance of providing value-added and customer relationship services to help maintain customer loyalty....show more
Automated FX trade execution: the arrival of Retail API trading
Retail Forex Client
Andrew Haines provide an overview of the opportunities API trading offers to Retail FX traders and what’s required to get started....show more
Delivering advanced web-based solutions for Retail FX margin trading
Retail Forex Client
Mike Thrower examines why banks are looking to target the increasing growth in flows originating from Retail FX investors and what’s required to enable them to deliver a professional margin trading solution....show more
The rise of FX Model Systems Trading
Retail Forex Client
The rise of FX Model Systems Trading...show more
What do brokers want from their Liquidity Provider?
Expert Opinion
What do organisations really want from a Liquidity Provider? How have attitudes and priorities changed since SNB events? Leading London-based Prime of Prime Broker, Sucden Financial conducted extensive research to address these questions amongst brokers, banks, fund managers and professional traders across the globe. The results provide insight into current market requirements and, as Peter Brooks, co-head of e-FX at Sucden Financial explains, highlight a major shift in priorities....show more
Overcoming the technology hurdles when integrating a binary forex option platform
Expert Opinion
By Tim Brankin Managing Director of TradeToolsFX...show more
Further perspectives relating to the SNB crisis
Expert Opinion
Abdelrahman Alimari Managing Director of CommexFX...show more
Expert Opinion
Expert Opinion
Jonathan Brewer, Managing Partner of IS Prime talks about FX Prime Brokerage and the evolving Prime of Prime brokerage landscape...show more
Check-lists to consider for selecting an FX broker
Expert Opinion
By Marc Burki, CEO of Swissquote Bank...show more
JFD – Just Fair & Direct
Broker Profile
By placing client interests at the heart of what they do and by focusing on the quality of service offered JFD see themselves as game-changers in e-FX. Despite only starting up 3 years ago they are already listed by Forex Magnates in the top 15 Largest MT4 Brokers, top 30 Largest Brokers (all categories) and 1st by average volume traded per account. (source: QIR4 2014). e-Forex asks Cyril TABET, Partner & CEO and Lars GOTTWIK, Partner & MD to tell us more about some of the latest developments at the firm....show more
Catering for everyone
Broker Study
e-Forex talks with Michael Konnaris, CEO of easy-forex, a leading online forex broker with headquarters in Cyprus and representative offices in many other parts of the world....show more
Broker Study With Scott Parker, COO at GCI Financial
Broker Study
...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
Lior Nabat, CEO of Tradency, talks to e-Forex about Mirror trading and the benefits that the “Trade by Knowledge” concept brings to traders, brokers and strategy developers.
In the chair
...show more
Building the benchmark for global FX
e-Forex Interview
e-Forex talks with David Mercer, CEO of LMAX Exchange...show more
CIBC: Focused on innovation and empowering clients
e-Forex Interview
e-Forex talks with Takis Spiropoulos, Managing Director and Head of the Global e-Commerce Solutions Group at CIBC. ...show more
Bloomberg – offering access to the global FX community
e-Forex Interview
e-Forex talks to Tod Van Name, Global Business Manager for FX and Commodity Electronic Trading at Bloomberg LP....show more
CFH Clearing – helping brokers and banks to improve their profitability and efficiency
e-Forex Interview
e-Forex talks to Lars Holst, CEO of CFH Clearing, who explains how the organisation has evolved to be so much more than a leading STP venue for Tier 1 liquidity....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
FAST TRACK
e-Forex Interview
Eddie McDaid, Head of Business Development at my-Channels, a leading technology firm specialising in Messaging solutions takes part in the first of the new e-Forex speed interview series....show more
The e-Forex Interview
e-Forex Interview
e-Forex talks with Stina Ekberg, Head of e-FX Trading and Distribution at SEB Merchant Bank....show more
A man with a unique view of the global FX market
e-Forex Interview
Derek Sammann, Managing Director, Global Head of foreign exchange at CME Group...show more
With Ian O'Flaherty, Managing Director, Global Head of e-Commerce, Foreign Exchange, Deutsche Bank.
e-Forex Interview
Ian O'Flaherty Managing Director, Global Head of e-Commerce, Foreign Exchange, Deutsche Bank....show more
With Tony Cripps, Head e-Commerce, CIBM, HSBC
e-Forex Interview
Tony Cripps Head e-Commerce, CIBM, HSBC...show more
Stelrox Capital Management LLP
Tradertalk
e-Forex talks with Buford Scott, Managing Partner at Stelrox Capital Management LLP, an alternative asset manager, with a focus on foreign exchange markets....show more
Pecora Capital - Man and Machine working together
Tradertalk
While many firms tend to pick a strategy or two and stick with that, Pecora Capital LLC prefers to mix things up. The Swiss-based macro investment management firm uses a variety of algo-based systems to navigate the world’s FX markets. What’s more, Managing Director Aaron L. Smith and Head of Trading William Adams see no reason why man and machine can’t work together. Smith calls the approach ‘managed systematic’....show more
Harmonic Capital Partners – A focus on investment strategy diversification
Tradertalk
e-Forex talks with Romael Karam, Partner at Harmonic Capital Partners LLP (Harmonic), an independent quantitative macro manager....show more
The liquidity hunter: a conversation with Patrick Fleur
Tradertalk
When you talk about sophisticated traditional buy-side players using algos, one name sticks out in the foreign exchange space. Patrick Fleur, head of trading and execution for Dutch pension fund service provider PGGM, has close relationships with virtually every major bank that’s producing algos for FX trading. He is constantly testing and evaluating them and he has dozens of algos to choose from. So what does Patrick think about the evolution of FX algos and what the key issues are now? Adam Cox reports....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
FX Fifty Five: delivering low latency access to FX liquidity pools
Tradertalk
e-Forex talks with Adil Soyfoo and Nathan Halfon, co-founders of FX Fifty Five, a specialist e-FX execution venue....show more
Howard Carr, Director at TEAM Asset Management
Tradertalk
A fully regulated, diversified asset manager located in Jersey, Channel Islands....show more
Welcome to the very first Social Forex Awards 2011
Awards
In 2011 we saw some innovative moves by banks utilising Social media in FX, and with more of them beginning to see the benefits of Social Forex as a sales & marketing channel, we believe that these efforts deserve major recognition. ...show more
The Exchanges – gateways to a new world of regional FX trading opportunities
FX on Exchanges
Exchange traded currency products are here to stay. Frances Faulds looks at how existing and new derivatives exchanges are gearing up to cater for the OTC FX market....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
JFD Group – a company on the fast track to record growth
Company in Focus
e-Forex asks Cyril Tabet, Partner & CEO at JFD Group, to outline some of the latest news from his company with a focus on JFD Prime....show more
Ask Tom
Ask Tom
High service levels have always been a priority for Gold-i, a world leader in trading systems integration. The company has recently strengthened its support team with a number of new appointments to ensure its increasing number of clients have access to MT4 technology specialists at all times. Ian Bunn has joined Gold-i as Head of Support, with 25 years’ experience in support roles and a strong track record in servicing clients in Europe and Asia. As a further investment, Gold-i is opening an office in China in November 2015 and will be providing local language support to clients operating in the Asia-Pacific time zone. To coincide with this increased focus on service and support, we asked Tom Higgins, Gold-i’s CEO to highlight the options available to brokers who need external support in order to run MetaTrader effectively....show more
Gold-i: Helping brokers to improve business performance
Sponsored Statement
Over the last six years, Gold-i has become widely known as the world leader in trading systems integration and has built an impressive client list consisting of many of the most prestigious and fastest growing brokerages across the globe....show more
CFH Clearing – Helping brokers to thrive
Sponsored Statement
CFH Clearing is rapidly gaining market share as a world leading Prime of Prime broker and award-winning Liquidity Provider. Paul Groves, Sales Director at CFH Clearing, shares his views with e-Forex readers on current broker requirements and priorities for the year ahead....show more
FXecosystem plans further expansion in 2016
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FXecosystem, the leading provider of outsourced connectivity services to the FX market, experienced significant growth over the last year with the introduction of new products and further investment in its network infrastructure. James Banister, CEO, FXecosystem talks to us about the organisation’s plans for 2016....show more
MahiFX – offering mid-size banks and brokers the opportunity to compete at top level
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The gap between the spot e-FX pricing and risk management technology deployed by the big liquidity providing banks and other institutions has only slightly narrowed in recent years. ...show more
IS Prime enables clients to offer Prime of Prime by white labelling their front to back Institutional offering
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The Prime of Prime market is in transition, with many players still struggling to find PB solutions in the wake of the market turbulence in January. We believe that this gives an opportunity to the more active players in the retail broker market to compete in the Prime of Prime space. ...show more
CFH Clearing broadens its offering to fuel further growth
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CFH Clearing, the London-headquartered Prime of Prime clearing provider, continues to attract an increasing number of prestigious institutional clients across the globe. We asked Lars Holst, CEO, CFH Clearing, about the secrets to the organisation’s ongoing success....show more
Understanding the true benefit of outsourced FX connectivity
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FXecosystem, a leader in outsourced connectivity services to the FX market, provides global FX banks, financial institutions, fund managers and retail FX brokers with enhanced connectivity and operational efficiencies. James Banister, CEO, FXecosystem discusses key factors to consider when deciding to outsource all or part of your connectivity requirements....show more
Ask Tom
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In the third in our series of Ask Tom features, e-Forex poses questions to Tom Higgins, CEO of Gold-i about the increasingly important role technology providers are playing in helping brokers to broaden their offering and manage their risk more effectively. For anyone interested in becoming a market maker, read on....show more
View from the Top: Sucden Financial continues to grow
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Wayne Roworth, Co-head of e-FX at Sucden Financial explains why the firm is in a stronger position than ever post SNB events....show more
Are you looking to further develop your CFD offering?
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It has been our strong belief for quite some time that the CFD provider landscape is in need of a shake-up. There has been a focus amongst retail brokers in the recent past to try to diversify their product mix to include CFDs....show more
Liquidity Pool Independent Mid-Rate Matching
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By Sophie Verdellet ...show more
CFH Clearing accelerates growth plans
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Lars Holst ...show more
Ask Tom
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In the second in our series of Ask Tom features, we ask Tom Higgins, CEO of Gold-i, to respond to four more questions relating to liquidity bridges, risk management, integration, and hosting and server management – four key areas which are critical to the smooth running of a successful brokerage. Tom is one of the world’s leading experts in the technical aspects of MT4. His responses below highlight how technology can be used to help brokers using MT4 to run their operations more effectively and profitably....show more
Slick Operations: Why speed matters
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According to James Banister, CEO of FXecosystem, brokerages across the globe are becoming increasingly aware of the competitive advantage they gain from hosting their trading platforms within the same sites as the main liquidity providers. ...show more
Executing FX trading strategies and mitigating risk through the Managed Network-as-a-Service model
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Ganesh Iyer Director, Global Product Marketing Financial Markets Network, IPC...show more
Banks are waking up to the e-payments revolution
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David Woolcock Global Head of Sales & Business Development at Eurobase International...show more
CFH Clearing: A clear route to success
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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
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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
Gurus secrets revealed: Observing the habits of highly successful Social Traders
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It may have taken a while for retail trading providers to latch on to the social network phenomenon so prevalent nowadays in most other online activities, but now that they have, social trading is taking the retail forex world by storm. Recent statistics from the eToro OpenBook social investment network show that traders not only prefer to carry out their trading activities through the social medium (over 70% of all trades), but that the medium itself is radically changing trading habits and efficacy. A dramatic 20% improvement in overall trader performance figures since the launch of the network, shows that the newly introduced social aspect of trading is not only a much needed injection of fun into the field, but a veritable revolution in the retail FX industry. ...show more
cTrader - delivering genuine ECN solutions for retail FX
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When deciding on the most suitable broker or service, forex traders are faced with a number of considerations. Until recently in the retail e-FX market, these considerations have focused on a number of basic factors such as spreads, platform usability and transaction options. But as homogeny took over, making it harder to distinguish between brokers, traders have developed more sophisticated criteria on which to base their decisions. ...show more
Gold-i Turns MetaTrader into Multi Asset Trading Platform
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Gold-i, a global market leader in trading systems integration, is aiming to revolutionise the industry this year by transforming MetaTrader, the world’s most popular trading platform for FX, into a multi-asset trading platform. In our three step guide below, we outline details of one of the biggest industry developments for 2012....show more
Trading the Right Curve for Cross-Border Securities
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As an investor, have you been reluctant to trade cross-border securities due to the costs and complexities involved? As a portfolio manager, have you found it an operational hassle to deal with the FX cover trades? As a fund manager, have you found it difficult to measure the actual performance of your portfolio managers due to the different currencies between the underlying assets and the fund? As a state pension fund, do you balk at the exorbitant post trade FX spreads charged by intermediaries such as custodians?...show more
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