e-Forex Magazine October 2002

e-Forex Magazine October 2002

e-Forex Oct 2002 - FX - Evolving towards an Exchange-like model? eFX trading solutions in the Currency Overlay business. Corporate eFX trading - thoughts for the future.

 

From ERM crisis to cyber trading.

Foreword

Heering Ligthart ponders whether the events of September 11 last year have acted as a catalyst for existing trends in the foreign exchange markets....show more

 

It’s all about trading

Leader

Adoption of electronic trading is a certainty for almost all markets says Neil Chriss, despite proponents facing a contingent of doubters in each market, including foreign exchange....show more

 

Look Back - 2002

e-FX Industry Report

Justyn Trenner traces the major milestones and important events that have shaped the development of eFX over the last 12 months....show more

 

eFX – A catalyst for developing “one-stop” multi-product eTrading platforms

Features

The idea of trading different instruments over a single channel is intuitively attractive argues Gloriana Marks de Chabris. However, the management of credit, particularly in a multi-product, multi-bank portal environment, will be the key....show more

 

Choosing a multi-product platform - Voices from the buy-side.

Case Study

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Options: The next chapter in eFX

FX Mythbusters

Within FX Options there are currently very few electronic trading systems used by customers. Christian Bruner outlines the reasons for this and the benefits that electronic execution brings....show more

 

FX - Evolving towards an Exchange-like model?

Marketplace

Hugh Stewart uses a neat metaphor to compare the FX market place and its major participants to highly adaptable sharks, who have long remained unmodified and withstood competition....show more

 

eFX trading solutions in the Currency Overlay business

Features

Paul Duncombe and James Smith from State Street Global Advisors tell us about the positive impact of e-Trading on their business....show more

 

Improving eFX trading risk system infrastructures

Features

Dr Nicholas Stewart outlines the requirements to accommodate multi-channel online trading as part of the risk management function....show more

Electronic Trading & Settlement practices.

Features

A view from The Foreign Exchange Committee on the issues facing market participants who replace confirmation messaging with trade validation from electronic front end trading systems....show more

 

Corporate eFX trading – thoughts for the future

Features

What does the electronic FX trading market hold for the future? Peter Barnes and Jean-Luc Janet explore the implications for treasurers, banks and system suppliers....show more

 

FX White Labelling

FOCUS

Anthony Edwards believes White Labelling presents an exciting opportunity for establishing and sustaining long term mutually beneficial relationships between banks, suppliers and their clients....show more

 

The role of Custodians in driving eFX developments

Viewpoint

A global custodian’s foreign exchange team is uniquely qualified to develop and deliver eFX solutions for the global investor. James Crossan describes the contribution they have made in driving eFX developments....show more

 

The role of STP in facilitating eFX

Features

If eFX trading and STP is so great, why aren’t we all doing yet? Paul Hasenfus answers that full deal automation is extremely complex and therefore only certain eFX vendors have implemented a model for the entire market....show more

 

STP and eFX: choices facing Fund Managers

Features

Ron Clarke examines what progress there has been in implementing STP solutions for electronic FX trading amongst Fund Managers. ...show more

 

With Lars Seier Christensen CEO of Saxo Bank

e-Forex Interview

Lars Seier Christensen CEO of Saxo Bank...show more

ICOR Brokerage expands FX options service to North America

News

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Currenex enhances FXtrades service

News

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Moneyline Telerate releases new version of Webstationâ„¢

News

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The Royal Bank of Scotland International adopts Musketeer

News

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SuperDerivatives adds retroactive functionality

News

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Merrill Lynch strengthens e-commerce offerings

News

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Deutsche Bank launches new trading solution

News

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Morgan Stanley enables FX STP for Hedge Funds

News

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JPMorgan continues to build a strong presence in eFX

News

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Reuters extends availability of its FX / Money Market Histories

News

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Credit Agricole Indosuez sees volumes grow 10 fold

News

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ANZ releases new FX pricing product

News

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Goldman Sachs develops online quote tool

News

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ForexMobile develops new application

News

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BMO sets up Directline for FX

News

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360T launches several new features

News

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UBS Warburg launches the FX Bottomline

News

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Bear Stearns licenses DerivaTech’s platform

News

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IFX releases upgrade of IFX Direct

News

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Enhanced HBOSdeal.com

News

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Barclays Capital introduces additional decimal places

News

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Trading models now live on BNP Paribas FX Portal

News

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Citigroup releases enhanced CitiFX® White Label

News

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Asset Managers’ volume on FXall grows by 146%

News

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Major deal using RBS FiX

News

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Mellon enhances IDeal Forex

News

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Global Link releases Competitive Swaps module

News

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Calyon selects Reuters to deliver FX trading platform

News

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IFX Markets launches new-look IFX Direct

News

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Hotspot FXi Streaming Prices Best in Euromoney Poll

News

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Nordea Analytics extended by IAS 39 tool

News

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BTM goes live with Cognotec's Market Rate Manager

News

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Commerzbank Corporates & Markets launches comforex:plus

News

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Spreadsheet Trading announced by Currenex

News

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360T and Misys to offer joint services

News

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Bloomberg releases new interface

News

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ACM adds new currency pairs

News

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GFT Introduces InciteFXâ„¢ Forex Trading Signals Program

News

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FX Engines launches live trading service

News

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Saxo Bank enhances TradeMaker

News

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FFastFill enables go-live of CME FX on Reuters

News

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Swiss Forex develops SFoxTM platform

News

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GAIN Capital expands proprietary Forex Research offering

News

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SuperDerivatives appoints new VP Sales, Americas

News

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Traiana hosts Harmony Forum

News

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EBS announces details of its FX offering for PTC

News

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Summit launches real-time Collateral Management module

News

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SEB launches FX Prime Brokerage

News

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Looking forward to the next 50 years of ACI

Foreword

Godfried De Vidts, President of the ACI, looks at why 2005 is an important year for the ACI as it celebrates its 50th anniversary....show more

 

Underpricing Liquidity – ePlatforms increasing systemic risk

Leader

Edward Pla talks about the debate surrounding FX Liquidity and why it’s heating up....show more

 

Could the expansion of EBS Prime unleash a new phase of e-Forex growth?

e-FX Industry Report

While EBS Prime is some way from establishing itself as a true buy-side system, the implications of its possible success cannot be overstated argues Peter D’Amario....show more

 

Trends in the electronic cash Foreign Exchange markets

Marketplace

Jodi Burns outlines how the forex market is going through many of the exciting market trends seen in more developed asset classes such as equities and fixed income....show more

 

How the FX e-commerce shopping basket is changing

Features

Mark Redwood describes how banks are now faced with a new set of decisions that will have significant impact on their future position in the marketplace....show more

 

FX-e Commerce & beyond – Providing Treasurers with more than just execution tools

Features

For corporate treasurers, e-commerce is moving towards providing a holistic set of products and services. David Mallinder shows how this isn’t limited to just FX price discovery and execution....show more

 

e-Forex talks with Bernd Hampele, Senior Project Manager, and Bernd Bublies, Head of Front Office at Heidelberg-based Heidelberger Druckmaschinen AG.

Case Study

e-Forex talks with Bernd Hampele, Senior Project Manager, and Bernd Bublies, Head of Front Office at Heidelberg-based Heidelberger Druckmaschinen AG. ...show more

 

Global FX Recruitment: How is e-Commerce shaping the future?

News

Peter Harwood examines how e-business is affecting the pattern of Global FX recruitment....show more

 

Real-time transactions, real life issues

Features

Brian Maccaba looks at how banks are approaching the challenges and opportunities of price-distribution in a new foreign exchange trading environment....show more

 

API's boosting access to eFX solutions

Features

James Kemp takes a look at the growing importance of API's and the benefits that both buy and sell-side derive from them....show more

 

FIX – aiming to improve the FX Trading process

Standards

Chris Pickles discusses how FIX will enable change and increased efficiency within the FX industry....show more

 

e-FX paves the road for FX Algorithmic trading

Features

The advent of e-FX has made Algorithmic trading possible in the FX world. Mitchell Mittman highlights the increasingly important role Algorithmic trading will play in FX....show more

 

Algorithmic trading – FX market perspectives

Features

Heather McLean gathers some industry views on the future of Algorithmic trading in the FX markets....show more

 

Extranets: Providing a secure framework for eFX

Features

Alan Schwartz considers the two basic network options for electronic FX trading, the standard Internet and secure Extranets....show more

 

Automating FX Give-Ups in an Electronic Age

Spotlight

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CME FX on Reuters - Combining the best of two worlds

Retail Forex Client

Rick Sears examines the potential impact of bringing the two largest pools of buyers and sellers into one unified trading environment....show more

 

Open Access and unbiased flexibility for Forex Traders sets RealTick apart

Viewpoint

Michael J. Felix Director of Marketing, Townsend Analytics, Ltd....show more

 

FX White Labelling - questions from the sell-side

The e-Forex Surgery

Katrin Lütjens Senior Product Manager at 360 Treasury Systems AG (360T)...show more

IT Integration of FX Electronic trading platforms: the impact on the buy-side

Features

Kelly Adams looks at the proliferation of buy-side electronic FX platforms and how this is creating some major integration challenges on the IT side....show more

 

Historical Testing - Leveraging online tools for more consistent FX Trading

Retail Forex Client

Scott Owens examines how automated trading systems now allow the trader to construct custom strategies for attacking the market with consistency and discipline....show more

 

Improving connectivity between the trader and the market

Log-Off

...show more

 

Single bank platforms – offering clients innovative, multi-product capabilities.With HSBC, Barclays Capital, Wachovia, Calyon and Standard Chartered.

e-Forex Roundtable

5 major FX banks debate questions on this key topic...show more

 

eFX & Asset Managers

FOCUS

FX Automation: It’s not about “electronic” it’s about “workflow” The key is for asset managers and technology providers to partner and leverage technologies says Richard Enfield which will help create an implementable workflow....show more

 

FORUM: eFX : adding value to the investment management process

FOCUS

4 major players discuss the main issues ...show more

 

With Andrew Kidd, Executive Director, European Head of FX eClient Development at Abn Amro.

e-Forex Interview

Andrew Kidd Executive Director, European Head of FX eClient Development at Abn Amro...show more

MG Financial Group enhances its DealStationâ„¢ platform

News

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Danske Bank now on RTFX

News

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Standard Chartered upgrades e-FX platform

News

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Wall Street Systems offers eOperations tool

News

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Travelex designs new payments system for Universities

News

Travelex has designed a new payments system to meet the needs of educational institutions. ...show more

News

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Full Service provision: meeting the future needs of FX Prime Brokerage

Viewpoint

The FX market continues to evolve like never before, despite a trending decline of volatility, the volumes continue to grow. Prime Brokers continue to be challenged in terms of identifying and responding to client demand, supporting all available alternatives, and continuing to provide a superior client experience....show more

ANZ upgrades FXOnline platform

News

ANZ has announced the completion of the latest upgrade to its eFX platform FXOnline...show more

News : Barclays Capital launches BARX Powerfill Orders

News

Barclays Capital has launched PowerFill Orders which gives clients a new range of FX functionality on BARX, the banks' e-commerce platform....show more

BGC’s Margin FX business launches BGC FX

News

BGC’s Margin FX Business has announced the release of its new and fully automated foreign exchange trading platform ‘BGC FX’....show more

Caplin launches Caplin Trader for FX

News

Caplin Systems Ltd has launched Caplin Trader, an out-of-the box web trading application that enables banks to build multi-product trading portals in FX and fixed income....show more

CFET’s launches new FX trading system

News

Reuters have announced that China Foreign Exchange Trade System (CFETS) has launched the first internet based multi-bank portal which can trade the Chinese Yuan using Reuters Electronic Trading technology. ...show more

Cognotec launches RealStream-Rate Manager

News

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Currenex expands functionality for submitting orders on VWAP

News

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db Marketplace - A new interactive order book from autobahnFX

News

Deutsche Bank has announced the launch of db Marketplace a new, exciting product within autobahnFX....show more

Dresdner Kleinwort launches FXWeb

News

FXWeb is Dresdner Kleinwort’s new web based white label product for margin trading....show more

Dukascopy - SWFX marketplace continues fight for milliseconds

News

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FNX launches new strategy builder platform

News

FNX Capital Markets Solutions (FNX), has announced the launch of a new strategy builder platform for CAYMAN, its recently launched margin trading and client management solution....show more

FXall introduces benchmark fixings to QuickOMS

News

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FXMarketSpace successfully launches trading platform

News

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Hotspot FXi adds fully Decimalized pricing

News

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HSBC introduces HSBCfix

News

HSBC has introduced the HSBCfix after recognising and responding to the increasing demand from all sectors of the foreign exchange client community...show more

ICAP launches e-trading in FX Forwards

News

ICAP has introduced e-trading in FX forwards to the global financial markets, with the launch of i-Forwards. ...show more

IG Markets launches new FX platform

News

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MIG Investments tightens Institutional offering: Spreads from 1 pip!

News

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odl mt4

News

ODL Securities has recently added some additional products to their MetaTrader 4 FX platform....show more

Reuters launches new version of Reuters Trading for Foreign Exchange

News

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Scotiabank deploys AutoDeal+

News

Scotiabank has adopted and deployed Cognotec's AutoDeal+ trading platform in Mexico and is utilising the platform to deliver a new automated FX trading service to its clients. ...show more

Block trading added to SGFXTrade

News

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Standard Chartered launches Straight2Bank

News

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SuperDerivatives provides multi-asset correlation tables

News

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Tradency expands partner base

News

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TraderTools introduces ExportTools™, the export engine for STPlatform™

News

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TraderTalk

Tradertalk

With Kristian Siggaard-Jensen...show more

 

Auto hedging secondary FX exposure

The e-Forex Surgery

With Jonathan Cooper at TradingScreen...show more

 

Regional e-FX Perspective on Australia

Regional eFX Perspective

Heather McLean investigates the uptake of FX e-commerce services and growth of online FX trading in Australia...show more

 

Model-based versus keyboard traders: a difficult FX sell-side balancing act

Marketplace

The development of electronic trading and especially electronic platforms in the forex market has driven out the smallest banks from the market. Electronic trading has increased visibility on the market and reduced volatility, drying out the margins. Today, the FX market is a business of high volume and low margins, which leaves room only for very large institutions and specialists. Indeed, there are fewer banks involved in this market, which is now in the hands of the largest banks, which are becoming bigger and bigger. ...show more

 

Tackling some FX Algo Misconceptions

Algorithmic FX Trading

With the rapid adoption of algorithmic trading in equities, speculation regarding how the equities experience will translate to other asset classes, such as Foreign Exchange (FX), has given way to a number of myths. In any emerging market, one can expect numerous assumptions and misconceptions to spring up and based on our client experience, we have categorized the main myths surrounding algorithmic strategies that incorporate FX. ...show more

 

Explosion in electronic trading – challenge for the financial markets – challenge for ACI The Financial Markets Association

Foreword

We live in a world of fundamental changes. Foreign currency reserves skyrocket, FX turnovers reach 3.000 bln USD per day (expressed in more detailed figures, e.g. 3 Mio transactions, each transaction worth of USD 1 Mio !), turnovers in compound structures such as certificates of the 3rd generation add enormous liquidity to the markets – business is great!...show more

 

Winds of Change in the Currency Markets: Evolution or Revolution?

Leader

Toto, this sure doesn’t look like Kansas. The winds of change are blowing - around the FX trading business. Will they carry market efficiencies over the rainbow? Or…drop a house on a witch?...show more

 

E-Market Dynamics: Changing the role of the FX Sell-Side

e-FX Industry Report

The global foreign exchange (FX) market has, in recent years, emerged as one of the most sought after markets on Wall Street. No longer just a by-product in cross-border transactions, FX has transformed itself into a legitimate asset class, which is increasingly leading to speculative activities from hedge funds and traditional asset managers, alike....show more

 

Debate : High frequency FX trading: technology, techniques and data

Debate

With Dr Richard Olsen, Chairman and CEO of Olsen, Thomas Parry, Director of Algorithmic trading at Plimsoll Capital, Jonathan Webb, Portfolio manager at C-View...show more

 

Evaluating the FX data issues for algorithmic trading

ALGOFX LAB

In the beginning there was light…now we have data; in fact we use the light to carry our data. If the light’s too bright you buy a pair of shades; if there’s too much data, well…you just ignore some of it. Is there such a thing as too much data? ...show more

 

Features : Delivering real-time risk management functionality for FX margin trading

Features

It comes as little news to anyone in the industry that the Foreign Exchange markets are in the middle of a tumultuous period of growth, expansion and transformation....show more

 

e-FX - The Pension Fund Manager perspective

Features

At one time it was only the hedge funds that actively traded FX, but Frances Maguire finds that that is no longer the case and that pension fund managers are increasingly looking to FX as a source of alpha and using electronic trading platforms to trade it....show more

 

Transactional FX data: Powering improved granular research and analysis

Features

Trading volumes are growing intensely in the FX market as are the number of participants and the pools of available liquidity. The variety of strategies are also increasing, in particular the use of algorithms. All of these trends have led to a growing requirement for more transactional data. Yet despite its size, the FX market is relatively poorly served in this regard, other than the most basic of pricing data. For example, up until now the primary source of global FX trading volumes was the triennial survey from the Bank of International Settlements....show more

 

Considering API’s: automated trading and FX Option platforms

Features

Frances Maguire sets out to discover whether the growing demand for application program interfaces (APIs) to enable more automated options trading could pave the way for an ECN-model for FX options. ...show more

 

Making sense of the FX connectivity conundrum

FOCUS

Foreign exchange is the most inclusive of financial markets and has used technology to lay out the welcome mat to all-comers. Initially the preserve of the inter-bank market, electronic platforms have been developed for corporates, asset managers, hedge funds and now retail investors. In democratising foreign exchange, the banks have set themselves the challenge of supplying liquidity to multiple market sectors competitively, while the buy-side has been quick to realise that best use of technology a critical factor in obtaining best price....show more

 

Faster Than Fast: FX Traders Can Now Connect Directly to the CME Network

Case Study

Neal Brady, director of CME Products and Services and Derek Sammann, managing director, CME Foreign Exchange tell e-Forex about the growing importance of colocated network connectivity in electronic FX trading and how CME LNet meets the demand for millisecond data transport. ...show more

 

Overcoming current obstacles on the path towards true web-based STP FX connectivity

FOCUS

The FX industry is unique compared to other asset classes in that it has an unparalleled level of fragmentation and segmentation and simply so many ways of doing things. Similarly there is a huge variety of participants in the market, all with different motives, from the high frequency hedge funds looking for arbitrage opportunities among global currencies to the corporate treasurers needing to pay bills in various currencies....show more

 

Banking on numbers: Making strategic moves into Retail FX

Retail Forex Client

The spotlight is now on the retail FX sector, which could bring new revenue streams for those banks quick enough to respond. Frances Maguire investigates...show more

 

“Going Automated” Strategies and Systems

Retail Forex Client

In recent years there has been expansive growth in automated FX trading. For example, whist the majority of clients at Strategy Runner, (the vendor that facilitates automated trading connecting a variety of automated trading applications to a range of brokers) are still futures based, the gap is rapidly closing in favor of FX. ...show more

 

FX connectivity – the push towards a real-time environment

FOCUS

Today’s banks are facing a strong and growing interest for enhanced online trading solutions from all client segments. Clients – from funds using algorithms to smaller corporate and private traders – are increasingly seeking broad, multi-asset coverage, and cross-asset trading capabilities to deliver real-time, executable prices at lightning speed....show more

GL TRADE makes key Forex appointment

News

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Liquidity and stability or taxation and change the whole system?

Foreword

The global financial crisis has revived the discussion on a financial transaction tax as a means of discouraging international currency speculation, help shrink 'a swollen financial sector' and perhaps simply to raise funds as an international (or national) source of revenue. ...show more

 

The push for standardisation - can we risk changing the future landscape of FX?

Leader

The recent disasters in the global banking system and the ensuing fallout in the derivatives markets fundamentally changed the way market participants use FX derivatives. The crippling widespread disappearance of liquidity and leverage as well as the over-regulation that many doom sayers predicted has not materialised; instead, market participants are refocusing on the core uses of derivatives that built the industry. Concurrently, there are greatly increased efforts at addressing systematic problems with efficiency and operational risk. In addition, regulators are preparing sweeping reforms to the OTC derivatives markets on both sides of the Atlantic and FX derivatives are in danger of being caught up in these reforms....show more

 

Retail FX Market: Growth, Consolidation, and Evolution

e-FX Industry Report

With the passing of the Commodity Futures Modernization Act (CFMA) in December 2000, the Commodities and Futures Trade Commission (CFTC) became officially responsible for regulating the retail FX market, thereby legitimizing the existence of the burgeoning retail market. Today, the retail FX market is booming with strong adoption across all major financial centers. ...show more

 

Single bank FX platforms will they keep powering ahead?

Features

Despite new research showing a slight shift towards multi-dealer platforms, the demand for single bank portals, and relationship-based pricing, is still high, especially in times of crisis. Frances Maguire examines how the continued investment by banks in their platforms is ensuring they continue to grow. ...show more

 

FX e-commerce in Shari'ah compliant currency trading - the new embracing the old

Features

Jim Nuzum CEO of GCC Markets, (www.gcc-markets.com) explores why there is growing demand for Shari'ah compliant FX trading solutions and how the latest FX e-commerce technologies can help address the needs of Islamic traders and investors. ...show more

 

Continuing innovation in exchange-based currency trading

Features

The world's futures exchanges continue to make in-roads into the biggest OTC market in the world and with recent regulatory discussions on the need for greater use of centrally cleared products, currency trading innovation continues to gather pace within the exchanges....show more

 

Navigating the communications minefield: High performance connectivity for High Frequency FX trading

Features

The Capital Markets landscape consists of a complete multi-asset, multi-partnered and multi-regional infrastructure in order to be profitable in today's market conditions. Trading execution venues, their participants and technology vendors must now all be at the front of technology advancements. However, the need to be in as many markets and to communicate to as many clients and partners as possible has made connectivity to market access a "mine field" of obstacles. In the second in our series on high frequency FX trading, Joe Hilt, VP of Sales, North America, Hibernia Atlantic, outlines some of the key issues facing FX trading firms who are planning how best to link their trading infrastructures to trading venues and what lessons they can take from latency, networking and trading connectivity developments in other markets....show more

 

Tracking new developments in currency derivatives processing

Features

Increasing numbers of banks, asset managers, pension funds, hedge funds, and corporates are looking to ramp up their use of currency derivatives, both for hedging purposes as well as a component of their fund and investment management strategies. Although great strides have been made in automating much of the processing and workflow associated with Over The Counter derivatives, much still remains to be done, particularly with regard to cost savings and risk management....show more

 

Sourcing and integration of historical pricing data for FX applications

Features

The demand for historical FX pricing data shows little sign of abating, with advances in technology and algorithmic trading in recent years driving matters. Roger Aitken canvasses industry opinion on how this trend is affecting the sourcing and integration of such data for FX applications....show more

 

Regulatory measures and real-time FX margining

Viewpoint

Mark Biezup, FX product Manager - SunGard Sierra, outlines why recent and projected regulatory changes along with a focus on risk management will have significant implications for FX brokers....show more

 

RBS - leading the way with integrated electronic FX solutions

e-Forex Interview

e-Forex talks with Michelle Neal, Global Head of electronic markets at The Royal Bank of Scotland about the consolidation of the banks' electronic platforms and the continuing development of its best of breed FX e-commerce solutions and e-trading tools....show more

 

The next wave of FX Algorithms taking order execution strategies to another level

Algorithmic FX Trading

What will be the next wave of FX algorithms? Nicholas Pratt charts the development efforts of the leading algo providers to examine how execution strategies in FX can be taken to another level....show more

 

DMA - an increasingly attractive toolset for the FX buy-side

FOCUS

The concept of 'Direct Market Access' (DMA) is a simple one and is yet another example of an invention that started out in the equities market and is now being adopted in the FX market. Nicholas Pratt examines the evolution of DMA and what it means for FX traders...show more

Achieving more effective Risk Management in Retail FX platform operations

Retail e-FX Provider

Faced with a need for more effective risk management of their Retail FX customer positions, banks and brokerage firms in the FX space are being challenged by ballooning small ticket items, varying customer credit limits, risk mitigation issues as well strains on their back office processing capabilities. Roger Aitken talks to leading industry players to explore the key issues involved....show more

 

Taking steps to prepare for Disaster Recovery

Retail e-FX Provider

Eric Burgener Senior VP of Marketing InMage...show more

 

Social networking helping to get Retail FX traders together

Retail e-FX Client

Social networking has now come of age in the consumer market, with the likes of Facebook, Twitter, Bebo and LinkedIn all attracting record numbers of members. Heather McLean explores how this maturing technology has now given rise to increasing interest in social networking for retail FX users, with added trading tools, charts, news feeds and forums to maximise the benefits for end users. ...show more

 

Regional Retail FX perpectives on Central & Eastern Europe

Retail e-FX Client

The CEE generally refers to the group of "Central and Eastern European" countries, formerly called the Eastern Bloc during the Cold War. These include Albania, Bosnia and Herzegovinia, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Montenegro, Poland, Romania, Slovakia, Slovenia, Serbia and, though it was never in the communist Eastern Block as such, Turkey. Recently, eForex interviewed Karol Piovarcsy, head of the newly opened Saxo Bank branch office in Prague, and Vladimir Kisyov, Head of Business Development at Deltastock in Sofia, Bulgaria about the growth and prospects from their perspectives for FX in this region. ...show more

 

Service, innovation and security: taking key steps to improve the Retail FX trading experience.

Retail e-FX Client

Service, innovation and security are the three key areas for winning the hearts and minds of retail traders. But what do these smaller traders really want from their platform providers? Heather McLean sets out to explore what brokers are doing to improve the FX experience for the armies of retail traders spilling out of the woodwork across the globe....show more

 

With Ian Naismith, co-Principal at Sarasota and co-Manager of The Currency Strategies Fund (Ticker: FOREX)

Tradertalk

...show more

 

360° Consulting: A leader in business development services for the Retail FX sector

Retail e-FX Provider

360o Consulting is a consultancy based in Limassol, Cyprus (EU), which provides a variety of consulting services to the Retail Forex / CFD /Commodity investment services sector. Costas Constantinides, Director and Chief Consultant of the firm, highlights some of the key areas where the consultancy is assisting Retail FX market participants to develop their establishments and improve their business practices....show more

Retail e-FX Provider

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TMS Brokers: Offering a high class service coupled with proven technology

Retail e-FX Client

e-Forex talks with Mariusz Potaczala, CEO of Dom Maklerski TMS Brokers S.A. (TMS) one of the first financial advisory and brokerage institutions in Poland to specialise in currency and money market operations....show more

 

Formulating a new benchmark of FX Best Practices

Foreword

Increasing regulatory initiatives strive to capture, to master but also to govern most of the financial markets. One of them, the Foreign Exchange market, is still a mainly OTC (over-the-counter) one, which has been overcoming the ongoing economic and sovereign turbulences remarkably well. ...show more

 

From banks to the buy-side - FX Clearing brings risk mitigation to the wider market

Leader

The impact of clearing will be felt throughout the FX market. Frances Maguire looks at the main challenges ahead and what’s in store....show more

 

FX regulation around the world

Regulatory Roundup

The past year has seen a great deal of change in the area of international Forex compliance. Although four years have passed since the Dodd-Frank Act became law, its repercussions continue to be felt. By the time the CFTC announced in May that it was extending relief for the second year in a row (with one commissioner expressing doubt that even the newly revised schedule was feasible), it was clear that real regulatory clarity was still a long way off....show more

 

Standing out from a crowd - how are FX e-commerce services being differentiated?

Features

Nicholas Pratt explores what it takes to rise to the top of FX e-commerce league tables and whether differentiation in e-FX can be more successfully achieved by delivering more client focused and less product focused products and services....show more

 

A Commanding view of FX

Platform Profile

Stefan Hamberger, Head of eFIC Sales at Commerzbank Corporates and Markets (C&M) talks to Frances Maguire about Commander, Commerzbank’s newly enhanced eFX platform, which gives users greater command and control over their FX trading....show more

 

FX Options – enhancing the pricing and execution experience of electronic platforms

Features

As advances in technology have meant that trading in vanilla FX options and structures is being more widely adopted, Frances Maguire looks at how pricing and execution on electronic platforms are now being enhanced....show more

 

Latin America

Regional eFX Perspective

Global trade, local politics and regulation are the factors that most influence electronic foreign exchange trading in Latin America, while south of the US border the market is as rich and diverse as the countries that comprise the region....show more

 

Big Data - FX meets the challenge of a growing information tsunami

FOCUS

FX market firms are seeing a growth in trading volumes that is leaving their trading infrastructures struggling. Dan Barnes explores how, as legacy technology struggles to cope, new ‘big data’ systems offer faster, more reliable processing power....show more

 

Reducing latency in FX – making the case for investing in new trading infrastructures

Forex Technology

The arms race in to deliver high-speed, automated trading requires a solid underlying technology architecture – but as Dan Barnes discovers, the multi-price, multi-market nature of FX makes this a complex task....show more

 

Technology - helping to meet the challenges of electronic FX

Fast Track

With Peter Kriskinans, Managing Director of DealHub, one of the leading providers of financial market software solutions....show more

 

Achieving more rapid design and deployment of algorithmic FX trading strategies

Algorithmic FX Trading

Everything is getting faster, it seems. And the faster things get, the shorter they last. Whether this relatively unrefined truism can be applied to FX algorithmic trading remains a moot point but, as Nicholas Pratt discovers, it is clear that service providers are devoting an increasing amount of time to building tools that can help to speed up the construction process for FX trading algorithms – from design to development to deployment. ...show more

 

News Analytics - Capturing market opinion for high performance FX

Algorithmic FX Trading

As the use of machine readable news becomes more accepted among FX traders, Nicholas Pratt examines the challenges facing the providers of such services – from sentiment to speed to social media....show more

 

FX trade workflows and regulatory change

FX Mythbusters

New regulations mandating clearing of FX OTC products and trade reporting of all non-Spot trades will not only introduce the need to connect to central counterparties (CCPs), Swap Execution Facilities (SEFs) and Trade Repositories to the FX back office, it will also impact all aspects of the clearing workflow for FX derivatives. Nick Dyne and Keith Tippell, co-heads of MarkitSERV’s FX business debunk a few myths around just how much market participants will be impacted by the new regulatory landscape....show more

Gold-i Gate Link – A unique real-time back office integration product

Sponsored Statement

Leading trading systems integrator, Gold-i has risen to the forefront of the industry by spotting gaps in the market and developing products for which there is a genuine need amongst brokers....show more

 

cTrader – a turnkey Non Dealing Desk platform

Product Review

Spotware Systems is a financial technology provider that strives to put the interests of traders at the heart of all their product development decision making. e-Forex talks to Ilya Holeu, Managing Director, about cTrader and cAlgo, the company’s DMA, NDD and STP Margin Spot FX platform....show more

 

UltiMT – an exciting new unified solution for MetaTrader traders and brokers

Product Review

Anthony Brocco, CEO of Advanced Markets, a leading provider of foreign exchange direct market access (DMA) services, talks to e-Forex about the launch of the company’s new technology, liquidity and credit offering, UltiMT....show more

 

Liquidity Bridging - helping FX brokers to manage risk, capture business and improve customer loyalty

Retail e-FX Provider

Liquidity bridges are now seen as an established and crucial element in delivering electronic forex trading services. Heather McLean explores how they can also help FX brokers capture more business, increase customer loyalty and manage risk more effectively by streamlining the back office and making operations run in real time, a vital task given today’s rising retail trade volumes, and increasingly savvy customers. ...show more

Top questions to ask when evaluating an MT4/Bridge solution

Viewpoint

By Andrew ralich, CEO at oneZero Financial Systems ...show more

CommexFx - working to provide a better FX trading environment

Sponsored Statement

...show more

 

Anywhere, anytime - Retail FX goes seriously mobile

Retail e-FX Client

Heather McLean explores in what ways the more powerful native features of mobile devices are being exploited to deliver improved mobile FX trading solutions...show more

 

Valbury Capital – bringing traditional service values to FX brokerage

Broker Profile

e-Forex talks with Mark Hanney, CEO of Valbury Capital, an FSA regulated brokerage firm operating from a London base....show more

 

ayondo – giving traders and investors access to Street Alpha

Product Review

Manuel Heyden, CEO and founder of ayondo GmbH, talks to e-Forex about why this social trading platform is proving so popular amongst the online trading and investment community....show more

AFX Capital - combining technology, experience and dedication to customer service

In the chair

e-Forex talks with Manuela Mazzacco, CEO of AFX Capital....show more

 

QFS Asset Management - taking a unique view on the business of managing money

Tradertalk

e-Forex talks with two new members of QFS Asset Management, Karlheinz Muhr, CEO and Jim Conklin, Ph.D., Head of Research. QFS is a leading asset and risk management firm based in Greenwich, Connecticut, USA....show more

 

The zloty to retrace losses

Currency Clips

Bartosz Sawicki Head of research at TMS Bro...show more

 

Spotlight on recent currency developments in China and Malaysia

Currency Clips

Kwah Wee Hong FX Dealer at Phillip Futures ...show more

 

Scandie currencies remain interesting to trade

Currency Clips

John J. Hardy Head of FX Strategy at Saxo Bank...show more

 

Latam FX – Tough going

Currency Clips

Simon Smith Chief Economist at FxPro...show more

 

The Middle East awaits Scottish referendum

Currency Clips

Noureldeen Mufeed Kh. Al Hammoury Chief Market Strategist at ADS Securities...show more

 

FXIC New York draws 400 to discuss Regulation, Technology, and Marketing

Recent Events

Some 400 members of the FX community from the Americas, Europe and Asia gathered at the Shift Forex’s FXIC New York this summer for a round of panel discussions on regulation, technology and marketing and for informal gatherings at the Grand Hyatt Hotel....show more

 

RedBack comes to a Royal House UK – China Renminbi Summit June 18th 2014 London

Recent Events

In June this year it was my great pleasure to attend the first UK-China Financial Forum as a guest of HM Treasury....show more

 

Culture change in FX? What a lot of noise!

Foreword

It should come as no surprise to readers of e-Forex magazine that the FX industry is undergoing pressure to reform, and that untold millions are being spent on external consultants to provide advice on how to achieve this culture change. From what I hear from market participants, heads of desks and board members, much of the effort has produced the same paralysis from the very participants at which the guidance is aimed. When was the last time a consultant lawyer provided your sales team with constructive wording on how to talk to clients? “But that leaves me with nothing to say!” is a common complaint....show more

 

Stability, trust and resiliency through technology the key to the safe functioning of financial markets

Leader

Everyone knows that CLS Bank plays a critical role in helping to mitigate risk across the foreign exchange markets. But many don’t know the history behind this systemically important institution and the key work that it has done over the past decade and more to help maintain financial market stability. e-Forex has invited David Puth, the company’s CEO, to provide a brief profile of his organisation and highlight why CLS remains the blueprint for cross-border co-operation to mitigate risk....show more

 

Cryptocurrencies – making the case for constructive regulation

Foreword

Tom Robinson COO of Elliptic examines some of the challenges faced by policymakers as they attempt to deal with the rapid evolution of digital currencies and why they should be seen as a force for positive change which would benefit from the creation of best practice rulesets, minimum standards and a regulatory framework that would encourage institutional investors to use them. ...show more

 

Collective Forecasting bringing the wisdom of the crowd to FX

Social Media

Arjun Hassard, CEO of Myriada, explains how the concept of crowd wisdom works and the benefits that collective forecasting could bring to the FX trading environment....show more

 

360T Market Maker Cockpit: Delivering control

Spotlight

e-Forex talks with Alfred Schorno, Managing Director of 360T Group about the firms latest pricing engine functionality....show more

 

The Redback comes of age: managing risks and harnessing opportunities in offshore renminbi

Market Infrastructure

The internationalisation of the Chinese renminbi has picked up pace this year, with a growing volume traded in the offshore currency. But its path to becoming a major international currency in its own right still has some way to run, writes Joel Clark ...show more

 

SEB

Provider Profile

e-Forex talks to Patrik Nilsson, Head of algorithmic FX trading at SEB who shares some insights on how the bank has developed new internal trading infrastructure built around the concepts of internal liquidity pools and cross product benefits....show more

 

Eurobase Banking Solutions

Provider Profile

e-Forex talks to David Woolcock, Global Head of Sales & Business Development at Eurobase Banking Solutions....show more

 

Complex but rewarding – extracting the maximum value from FX Liquidity Aggregation

Liquidity Management

Nicholas Pratt examines how FX participants are able to extract the maximum value from the ever evolving world of the FX liquidity aggregation and how the providers are working to match the demands of buy and sell side....show more

 

ParFX Prime

Product Launch

e-Forex talks with Roger Rutherford, Chief Operating Officer at ParFX, about the launch of ParFX Prime....show more

 

Gold-i: The FX technology company with innovation in its DNA

e-Forex Interview

e-Forex talks with Tom Higgins, CEO of Gold-i, a global market leader in multi-asset class trading systems integration....show more

 

Transformation of the Foreign Exchange Industry Is it finally happening?

Expert Opinion

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

 

Reduce time-to-market and costs with LiquidityFX

Provider Profile

LiquidityFX is an extensive trading solution for FX, Swaps, NDF and Precious Metals and is built on smartTrade Technologies proven liquidity management platform. e-Forex caught up with David Vincent, CEO and co-founder of smartTrade to ask him why the product is being so successful...show more

 

CFH Clearing is helping brokers to grow

Sponsored Statement

Whilst the market has been struggling with low volatility, CFH Clearing and its clients have been bucking the trends. Nick Mortimer, head of Prime Brokerage and Clearing at CFH Clearing explains why brokers are benefiting from partnering with the global leader in Prime of Prime solutions....show more

 

JFD Brokers

Broker Profile

A firm on a mission to disrupt the FX/CFD trading industry with a set of game-changing solutions. e-Forex talks with Cyril Tabet, Partner & CEO at JFD Brokers Ltd. ...show more

 

A look at some of the winners and Losers over the past Couple of Months

Traders Workshop

Samuel J. Rae gives us an overview of the ups and downs he has experienced with his trading strategies over the last three months and the steps he takes to maintain a positive risk reward ratio....show more

 

Orbex Putting customers, knowledge and technology at the centre of their operations

Broker Profile

e-Forex talks with Abdullah Abbas, Managing Director of Orbex, a fully licensed and regulated Cyprus investment firm supervised by CySEC....show more

 

Mitigating conduct risk – making the move towards real-time market surveillance in FX

Special Report

In today’s fast-evolving regulatory environment, building effective real-time market surveillance systems can be a key differentiator for clients when choosing their FX provider. Now, with the advent of of increasingly sophisticated systems that can predict breaches before they even happen, financial firms are also seeking to turn regulatory necessity into competitive advantage for their trading desks. Caroline Henshaw investigates....show more

 

Connectivity, clearing and contracts – wider opportunities for currency trading on exchanges

FX on Exchanges

With mandatory central clearing for FX OTC products already prompting a greater number of clearing services, contracts and connectivity options being offered by the exchanges Frances Faulds looks at growth in exchange-traded FX....show more

 

LMAX Exchange: Spotting the difference

FX on Exchanges

David Mercer ...show more

 

Eurex: Combining the best of both worlds

FX on Exchanges

Reny Morsch ...show more

 

Switching a retail FX brokerage to the multi-platform model

FX Brokerage Operations

Heather McLean explores what issues are leading increasing numbers of FX brokers to offer multiple platforms to their customer base and the advantages this brings....show more

Boutique prime brokers offering a far more customised FX service

FX Brokerage Operations

The prime brokerage industry is facing some of its toughest times since the financial crisis, squeezed on one end by stricter regulations and at the other by falling profits. But, as Caroline Henshaw now reports, mid the chaos, a new generation of agile and sophisticated boutique FXPBs have emerged that can offer clients a service tailored to their diverse needs....show more

 

Reaching a tipping point why FX data managers are now investing in the Cloud

Networks, Hosting and Connectivity

Cloud services may appear to be the answer to the data management challenges facing many FX firms offering almost unlimited space and constant availability at affordable prices. But, discovers Nicholas Pratt, potential customers should always ensure they examine the physical properties that lie behind every cloud service. ...show more

 

Isolating the real merits of fully outsourced hosting and FX connectivity services

Networks, Hosting and Connectivity

Outsourcing something as crucial as management of connectivity infrastructure may create concern through the loss of control, however, as Dan Barnes reports here, it can greatly improve flexibility around cost and market access....show more

 

CCTrack Solutions

Tradertalk

Poised to deliver a unique blend of quantitative strategy, active risk management and extensive trading experience....show more

 

Europe’s figures, sentiment and confidence seems to be high

Currency Clips

After a good performance in 2017 and a solid start in 2018, I expect the momentum to be further sustained for the rest of 2018. The Eurozone could be looking forward to a great future after being quite stagnated for many years. ...show more

 

The British pound faces huge risks

Currency Clips

Q1 has not been a positive period for the British Pound, which has dropped around 500 pips since late January. Even though the first few weeks of 2018 were positive for sterling, fresh news coming from Brussels on the progress of the Brexit talks caught investors off guard. ...show more

 

US economy improving moderately

Currency Clips

The US economy grew at an annual rate of 2.5% in Q4 2017, 0.1% below Q3 (Q3 revised down from 3.3% to 2.6%), yet, it repositioned itself back within the 2-3% normal growth and away from recessionary risk. The decline in GDP reflects, partially, the gradual acceleration in PCE from 0.1% in September 2017 to 0.2% by year’s end....show more

 

Who’s holding all the Bitcoin...and why all the FUDing?

Currency Clips

My previous e-FOREX article found interesting research about who bought Bitcoin and why. You’ve heard about the recent ‘doomsdayers’ and elderly middle America starting to hodl Bitcoin assets, so first lets deal with terminology! ‘Hodl’ or ‘hodling’ is misspelling of hold or holding on a message board back in 2013. ...show more

Addressing the Cybersecurity landscape through collaboration

Standards

The FIX Cybersecurity Working Group was established a number of years ago in response to the deteriorating security landscape for financial services institutions. This article outlines the Group’s operating logic, initiatives to date, and anticipates the work the FIX Cybersecurity Working Group will undertake in continuing efforts to counter cybersecurity risks. ...show more

FX Order Management - Next generation toolsets for addressing the workflow challenges of asset managers

FX e-Commerce and Platforms

Complex regulatory and conduct changes can present challenges for any industry, let alone one as diverse and global as foreign exchange, yet they also offer opportunities to those technology vendors that can prove themselves most adapt at meeting a sudden demand for certain solutions from market participants....show more

Just, Fair And Direct - JFD Brokers - A firm that’s determined to live up to its name

e-Forex Interview

JFD Brokers has managed to achieve remarkable growth over a relatively short period of time, being ranked among the Top 20 CFD & FX electronic brokerage firms and Top 3 MT4 brokers worldwide. As it provides a unique model and approach to investing and trading, we asked Lars Gottwik, CEO of the firm, to tell us more about this and his plans for guiding the business in the future....show more

 

FX on Exchanges - Global growth accelerates

FX on Exchanges

The aftermath of the credit crisis and fears of systemic risk in the over-the-counter (OTC) market is channeling more FX flow on to exchanges. This regulatory push to increase transparency in a global FX market with more than $5 trillion in average daily volumes is spurring innovation among major global exchanges as they scramble to meet escalating demand. Buy and sell side firms now have an unprecedented breadth of centrally cleared products to choose from. Joe Morgan investigates....show more

Conversations on the roller-coaster

Blockchain and CryptoCurrencies

Ron Quaranta, chairman, Wall Street Blockchain Alliance, and a prominent advocate of innovation in finance, spoke to William Essex about the present and future impact of blockchain on finance in general and FX in particular....show more

 

Blockchain and the Banks - how does FX fit into the puzzle?

Blockchain and CryptoCurrencies

As they work together on the future, banks should push beyond business-process innovation, says William Essex....show more

OTCXN - Solving the Cryptocurrency Market’s biggest problems

Provider Profile

The growing interest in the cryptocurrency markets has led to many market participants asking for trading tools that can improve pricing and liquidity formation, along with safer ways of transacting off- exchange and cross-exchange clearing and settlement for greater capital efficiency....show more

Blockchain around the world

Blockchain and CryptoCurrencies

Blockchain around the world...show more

 

Regional e-FX perspective on Sub-Saharan Africa: Giving power to the people

Regional eFX Perspective

Sub-Saharan Africa is experiencing an e-driven democratisation of foreign exchange services on a continental scale....show more

 

CFH Clearing Seizes Global Growth Opportunities

Sponsored Statement

With new senior team members, a continued investment in technology and an increased focus on Asia, CFH Clearing, part of the TradeTech Group, experiences continued success. e-Forex talks to Matthew Maloney, CEO, CFH Clearing to find out more....show more

 

FlexTrade - a top class technology vendor specialising in cross-asset EMS solutions

Provider Profile

e-Forex talks with Marek Lewandowski, FX sales director at FlexTrade Systems, to learn more about the company and his views on how the FX market is evolving....show more

 

Leveraging the power of Widgets

Product Launch

FX Blue Labs is a leading provider of apps for the FX and CFD markets and the company has recently launched a range of innovative widgets. e-Forex talks with their Managing Director, John Morris to learn more....show more

 

AI, Machine Learning and Big Data Analytics – The new strategic imperative to drive business transformation in FX

Special Report

Nicholas Pratt examines how artificial intelligence (AI), machine learning (ML) and big data analytics are being incorporated into the FX market, what will drive its adoption and what benefits it will bring participants....show more

 

Product Focus: Gold-i launches Matrix Net

Product Review

Gold-i has extended the capabilities of its multi-asset liquidity management platform, Matrix, with the launch of Matrix Net....show more

PrimeXM - Innovation by Intelligence Cutting-edge technology for financial institutions

Product Review

Trusted by more than 250 leading financial institutions, PrimeXM’s technology is celebrated for its innovative and steadfast nature. Dedicated to its partners and their growth, PrimeXM is committed to evolving its solutions and providing a competitive edge. In the acutely fast-paced finance sector, the company has remained true to its mission and has consistently created cutting-edge environments to connect financial institutions to the global markets....show more

ISAM Capital Markets - A company on a very steep growth trajectory

Meet the team

ISAM Capital Markets – IS Prime Hong Kong, IS Prime and IS Risk Analytics - delivers a winning combination of proprietary technology, unrivalled aggregated liquidity, premier Prime of Prime services, superior risk management and outstanding service to its global institutional client base. e-Forex talks to members of the team to discover how the company is structured, the services it offers and plans for the future....show more

 

Stater Blockchain accelerates growth plans

Sponsored Statement

Stater Blockchain, owner of FCA regulated brokerage Stater Global Markets has announced significant expansion plans over the last few months. The organisation is aiming to be the global market leader in blockchain technology solutions for the financial markets and has a number of innovative products in development. e-Forex speaks to Stater Blockchain’s CEO, Ramy Soliman to find out more....show more

 

Selecting the Right Financial Extranet Provider Can Give FX Players an Edge

Expert Opinion

In the ultra-competitive world of foreign exchange (FX) trading, deploying a financial extranet has become one of the most effective tech strategies for FX firms to secure their market position, however, careful due diligence is required....show more

 

Best Practice for Mobile - A toolkit for brokers to apply in their business

FX Brokerage Operations

Trading is at the heart of what brokers offer to their clients, but trading is not the problem brokers are trying to solve any more. In 2018, “everything else” is the problem....show more

Choosing the right counterparties

Last word

As volatility starts to pick up it’s time to brace for the storm that lies ahead and for market participants to ensure the counterparties they work with can deliver the services needed....show more

The Finance Hive Live: FX Leaders Summit – London 5th June 2018

Recent Events

The Hive Network held a very successful event in London in June where 50 of the largest buy side firms based on Assets Under Management were talked through the issues that are currently influencing the FX industry including:...show more

 

ISAM Capital Markets - A Powerhouse for Institutional Clients

Sponsored Statement

e-Forex asked Raj Sitlani, Managing Director of ISAM Capital Markets and Managing Partner of IS Prime about the structure of the ISAM Capital Markets group and the benefits that its constituent entities bring to the table. ...show more

 

Blockchain as you like it

Blockchain and CryptoCurrencies

Far from disrupting the system, blockchain has become part of the system says William Essex....show more

Blockchain around the world

Blockchain and CryptoCurrencies

Blockchain around the world...show more

 

Today’s disruption tomorrow?

Blockchain and CryptoCurrencies

Stater Blockchain focuses on developing and deploying globally scalable blockchain technology solutions in the financial markets. William Essex spoke to CEO Ramy Soliman about the prospects for blockchain-inspired disruption in the FX market. ...show more

 

CFH Clearing: Market Leading Liquidity for Institutional Clients Worldwide

Sponsored Statement

e-Forex talks to Matthew Maloney, CEO, CFH Clearing about the strength of CFH’s liquidity and how, over the last year, the FCA regulated firm has developed an even more compelling liquidity offering for institutional clients worldwide....show more

 

Singapore: Growth + Technology = Success in eFX

Regional eFX Perspective

Singapore is Asia’s leading FX trading centre because it is the sweet spot where regional economic growth meets technology and innovation. Richard Willsher investigates....show more

 

Stater Global Markets: Exemplary Service for Clients of All Sizes

Sponsored Statement

“One of the consistent messages we keep hearing from brokers is that service levels from their PoPs have declined. Many brokers aren’t sending as much business to their PoPs as they used to. As a result, they get the feeling they are not significant customers or are seeing a degradation of commercial terms,” says Ramy Soliman, CEO, Stater Global Markets....show more

 

Markets tend to correct themselves - Europe’s sentiment unchanged

Currency Clips

If not the most important benchmark to measure the growth and power of both the European and USA’s economy, the EURUSD chart is definitely one of the most important. Some months ago, when I was writing about the euro and Eurozone, I decided to emphasize on fundamentals and end the article with a technical analysis supporting the fundamentals....show more

 

USD/JPY fundamental events match technical chart

Currency Clips

Dukascopy Analytics has been paying attention to the movements of the US Dollar against the Yen since the start of June. It was apparent that the pair’s fluctuations on charts perfectly matched with and respected the borders of a simple channel pattern. ...show more

 

Trade spats make the dollar bulls sit on a powder keg

Currency Clips

The Federal Reserve hiked interest rates in June and signalled that two more rate hikes are ahead. This information was somewhat surprising or investors, although market players treated the update with caution, building moderate bets on the dollar. ...show more

 

Pound vs. Dollar: a battle of attrition lies ahead

Currency Clips

We’re holding a stable outlook for the pound over the next month as the UK currency seems to have bottomed out against the dollar and the prospects of a correction higher seems increasingly favourable. ...show more

 

Differentiated Liquidity Provisioning: Non-Bank’s increasingly prominent role

Market Commentary

During a recent study involving three major banks and eight large multi-dealer platforms (MDPs), I confirmed what I had learned in hushed tones at industry events, namely that non-bank firms are assuming an increasingly significant liquidity provisioning role. Since that study, I’ve had the opportunity to put this growth in context and how this group of firms got there. ...show more

 

Boosting liquidity and best execution for emerging market currencies

Liquidity Management

One main stumbling block to growth in electronic FX execution of EM currencies is liquidity especially since the majority of the market is usually for local currencies that are not only illiquid but are also often under some form of capital control. Joe Morgan explores some of the issues involved....show more

 

FX Clearing - Foundations for the Next Generation of FX

Expert Opinion

Even though right now the bulk of the five plus trillion dollars FX ADV remains OTC executed and underpinned with bilateral credit, the G20 in Pittsburgh 2009 charted a new course for the derivatives market by triggering regulation that has forced pre-trade transparency, competitive execution, trade reporting, and central clearing into this traditionally bilateral market....show more

Gold-i - The company that’s programmed to innovate and isn’t afraid to be different

e-Forex Interview

Tom Higgins, CEO of the multi-award-winning FinTech company, Gold-i talks to e-Forex about its continual focus on pushing boundaries and its mission to help brokerages and banks around the world reap the benefits from its market-leading technology....show more

 

TradAir – looking to become your FX technology partner of choice

Provider Profile

TradAir is a leading provider of FX trading technology solutions. e-Forex spoke with Viral Tolat, CEO of the firm to discover more about its comprehensive suite of products and future plans....show more

 

IPC’s Connexus Cloud - The high-performance Network-as-a-Service (NaaS) for data, voice and enterprise connectivity.

Product Review

David Brown, Senior Vice President, Managing Director for Financial Markets Network at IPC explains how IPC’s Connexus Cloud interconnects global financial centers and enables access to one of the world’s largest and most diverse financial ecosystems....show more

Dealing with a process without end: Taking a more pragmatic approach to Best Execution in FX 

Special Report

Best execution in FX can be seen as an ongoing process and not an end-point to be reached. We explore that concept and why the demands it makes are forcing risk managers and treasury professionals to engage with the process in much deeper ways....show more

 

ImpacTech - A company that truly invests in the success of its clients

Provider Profile

George Larkou co-founded ImpacTech and is driving forward the company’s vision to become a global leader in the development of Business Intelligence solutions. e-Forex interviewed him about the products and solutions his team have developed for the retail FX brokerage market....show more

How Technology is Transforming the FX Markets

Expert Opinion

Technology continues to transform the FX markets, enabling both buy and sell-side market participants better access to pricing, liquidity, and post-trade analytics. As we saw with the equity markets in the early 2000s, the FX market is adopting much of the same technologies to address market access. Early adopters of e-FX platforms built, invested, and maintained in-house systems as the FX market evolved; and now these in-house systems morphed into complex and fragile components of larger trading infrastructures....show more

 

Platforms, Liquidity and Connectivity Gateways - Exploring the world of high-end institutional crypto trading solutions

Trading Operations

It is now nearly a decade since the initial launch of bitcoin, but in terms of both technology and infrastructure, the cryptocurrency market is still very much in its infancy. Yet growing institutional demand for crypto trading will require a new breed of institutional grade solutions to match, Nicola Tavendale writes....show more

Industry Warning: Is your Brokerage Compliant? New ESMA rules to take effect on August 1

FX Brokerage Operations

An industry-wide legislation set forth by the European Securities and Markets Authorities (ESMA) has called for a temporary restriction of the......show more

 

Time is running out for a Brexit deal

Currency Clips

There are just 200 days left before the UK leaves the EU and – at this moment – we still we have no deal on the table, and yet it is a vital time for the future of the British pound. During the first couple of weeks of September bullish bets on sterling increased as the EU’s chief negotiator Michel Barnier struck a more optimistic tone.  ...show more

Australian dollar influenced by global backdrop

Currency Clips

It’s hard to envisage an end to the Aussies aggressive downside at the moment, as external forces continue to drive the currency. Trade discussions between China and the US remain one of the biggest drivers here as the reliance on US dollar moves means that the greenback’s strength is doing a lot of damage....show more

 

Is the Greenback’s rally sustainable?

Currency Clips

The U.S. Dollar’s exchange rate has attracted a lot of attention throughout the past several months, especially against EM currencies which many of them fell to record or multi years lows.  Argentine peso held the title of the worst performing currency in 2018, having lost more than half its value since the beginning of the year. ...show more

 

Summary of Electronic FX Market, 2018: Midsize-to-Large Buy-Side Firms’ Needs

e-FX Industry Report

Global buy-side volumes have grown faster than any other category of FX trading since 2004, more than 300% to over US$1.3 trillion according to our estimates. A strong contributing factor was the buy-side’s increasing usage of sell-side prime brokerage credit lines which has helped pump up transaction volume. Changing attitudes towards FX, now considered an investable asset class, have also contributed to the growth in real money FX volumes. Between 2010-17 London and New York buy-side volumes leapt almost 80%....show more

CFH Clearing: Discovering what it takes to become one of the most respected FX Liquidity Providers in the world

e-Forex Interview

CFH Clearing was founded in 2008 and is one of the FX industry’s leading execution venues. In 2016, it was acquired in a $120m transaction by Playtech Plc, a global market-leading technology company in the gambling and financial trading industries. e-Forex talks to Matthew Maloney, Chief Executive Officer of the firm to discover more about his determined focus on having the very best liquidity offering in the industry and CFH’s future growth strategy plans. ...show more

 

Catching Blockchain’s Wave

Blockchain and CryptoCurrencies

William Essex explores two possible futures with the Blockchain and talks about finding a more likely one somewhere between them....show more

 

THE BLOCKCHAIN Q&A: There’s more to say about data

Blockchain and CryptoCurrencies

We have already had a comprehensive discussion of Cobalt’s move onto the BT Radianz Cloud in our main feature this month. In the course of his research for that section of his article, William Essex spoke to Yousaf Hafeez, head of business development, BT Radianz, and Andy Coyne, co-founder and CEO of Cobalt, about their plans – and more. We re-join the conversation just as a question is asked about the unification of data…...show more

 

Leveraging DLT at the multi-asset app store

Blockchain and CryptoCurrencies

CLS is working with IBM on a PoC for its shared DLT network for financial services, LedgerConnect. This may just be the missing link between banks and fintech innovators, and it may have significant impacts for FX and other asset classes. Key features in the box at the end, but first, Ram Komarraju, Head of Innovation and Solution Delivery at CLS spoke to William Essex about LedgerConnect’s potential to change the way we do business....show more

Blockchain around the world

Blockchain and CryptoCurrencies

Blockchain around the world...show more

 

The Middle East: FX joins the regional digital revolution

Regional eFX Perspective

Supported by government-funded infrastructure, the main financial centres of the Middle East are developing digital economies at a rapid pace. This underpins the expansion of trading and innovative electronic foreign exchange technologies in the region. Richard Willsher investigates....show more

Credit Financier Invest (DIFC) Ltd

Regional Provider Profile

Credit Financier Invest (DIFC) Ltd. (CFI Dubai) is a new player in the institutional space that is based in the heart of Dubai International Financial Center (DIFC), an increasingly important strategic regional business hub. ...show more

 

Stater Global Markets: High Calibre Offering for Institutional Clients

Sponsored Statement

Stater Global Markets’ CEO, Ramy Soliman and COO, Mark Chesterman talk to e-Forex about their views on the Prime of Prime market and the importance for institutional clients of selecting a Prime of Prime broker that has no vested interest in the liquidity or technology they offer....show more

 

Real-time FX data analytics: Exploring the productivity and competitive advantages

Special Report

For sell-side firms, differentiation in the foreign exchange (FX) market is an increasing challenge. With so many market makers in the spot market, competition is fierce and firms without a clear differentiator are finding it increasingly difficult to retain and win market share....show more

Spark Systems – pioneering the creation of a Singapore - based foreign exchange marketplace

Provider Profile

Spark Systems is a Singapore-based financial technology company that provides innovative solutions for foreign exchange trading across Asia. The company connects buyers and sellers under one platform, and aims to make FX trading in Singapore cheaper and faster for institutional investors. To find out more, e-Forex spoke with the four founders of the firm who are all industry veterans with deep domain knowledge in Finance, FX Trading, Technology and Software Engineering....show more

FX Hybrid Technology Evolves as Retail and Institutional Converge

Market Commentary

Perspective from Andrew Ralich CEO, oneZero Financial...show more

 

Gold-i: Helping Brokers Worldwide to Thrive

Sponsored Statement

Gold-i, which is celebrating its 10th anniversary in October 2018, is renowned worldwide as one of the industry’s leading technology companies. As the company has evolved, Julian Elliott, one of its first employees, has been promoted through the ranks to Chief Commercial Officer. Julian talks to e-Forex about the firm’s current focus and future plans....show more

 

AutoTrade – taking the path towards automated trade mirroring

Product Launch

To enrich their products and services in ways that are helpful and useful to both their retail and institutional clients, ProbusFX has recently partnered with Myfxbook to provide access via account linkage to the AutoTrade Trade Mirroring tool. Through this partnership, ProbusFX provides access to Next Generation Trade Mirroring for any client interested in having the smoothest and most optimized Social Trading experience. For the following interview, we got in touch with Youssef Barakat, CEO of ProbusFX, to ask him a few questions about their partnership with AutoTrade and about how ProbusFX clients can start using the Social Trading tool....show more

Institutional cryptocurrency trading - Addressing industry concerns and solving the technical issues

e-Forex Roundtable

According to a recent report from TABB Group significant sums of institutional money is sitting on the sidelines, just waiting for the right conditions to join in the cryptocurrency trading market. However existing business and crypto trading infrastructure solutions are not seen as technically robust enough to satisfy the demands of many institutional investors and trading firms. For example, there’s a lack of a sophisticated clearing and settlement infrastructure. Centralized wallets or custody are open to theft; Omnibus fund accounts are not transparent or independently verifiable or efficient enough; The requirement to place funds with each centralized exchange is not an efficient use of capital: Counterparty risk is a big issue, as is lack of banking support for crypto assets. Trade connectivity is relatively slow and unreliable and there are difficulties with crypto liquidity and accessing crypto market data. <br> e-Forex has therefore brought together James Banister, CEO, Market Synergy, Hu Liang CEO of Omniex, Ayal Jedeikin, co Founder of TradAir and Rosario Ingargiola, CEO of OTCXN to discuss some of these questions and see how new technologies and solutions are being developed to help solve them....show more

 

IS Prime launches LD4 Matching Engine for FX and Bullion

Sponsored Statement

In response to client demand, IS Prime has launched a native matching engine to provide its flagship Prime of Prime service in Equinix’s LD4 data centre.  This will enable IS Prime to deliver its best of breed liquidity and execution service in a more efficient way for clients who have their trading hardware located in Europe....show more

 

Accessing the Japanese FX market

Trading & Technology Clinic

In this edition of our Trading and Technology Clinic we invite Ricky deBritto, Transaction Network Services’ Country Manager for Japan, to answer your questions on Japanese FX market conditions and the challenges present when accessing the dynamic Asian markets....show more

 

Borrowing a page from Japan’s successful Retail FX experience

FX Brokerage Operations

Simultaneously across key jurisdictions, the retail FX trend started two decades ago this year. In the United States it was firms like Gain Capital and Oanda, while in Russia with the likes of Alpari and Forex Club. In Japan, retail FX also started – at least on paper – in 1998, but only gained force after 2004. As a long-time professional analyst of the retail FX market, I’ve come to hold the Japanese retail FX way of doing things as the healthiest and best model for other jurisdictions to follow. While acknowledging that there are national idiosyncrasies that could make it impossible to fully replicate the Japanese model elsewhere, much of what Japan got right can be pursued. ...show more

 

Indo-British All-Party Parliamentary Group, October 16th, Churchill Room, the Palace of Westminster, London.

Recent Events

India imports $1bn of spice into the country - not what you would expect...show more

 

Finance Magnates London Summit

Recent Events

13-14th NOVEMBER, 2018 Old Billingsgate, London...show more

 

RBA happy with a weaker AUD

Currency Clips

The RBA is quite happy with a weaker AUD - and despite weaker inflation numbers this week , we doubt that investors will have any solid reasons to chase the currency too much higher after a week that saw the same old story, but ended with a solid bounce. ...show more

 

The Greenback still has room to march higher

Currency Clips

Investors and traders across the globe have been paying a close attention to the U.S. mid-term elections which delivered a divided Congress on November 7. ...show more

 

‘Technicals’ struggling to keep Euro steady amidst high volatility and uncertainty.

Currency Clips

October was a bad month for the Euro as it continued to lose ground against most of the other major currencies with limited exceptions like CHF and JPY. ...show more

 

BOJ downgrades economic growth and inflation forecasts

Currency Clips

Japan’s central bank ruled out a near-term interest rate hike in the middle of risks from global trade disputes, and raised warnings about vulnerabilities in the financial system from years of loose monetary policy. ...show more

 

The more things change, the more they stay the same

e-FX Industry Report

In late 2016 and early 2017, GreySpark Partners documented a profound shift in the infrastructure for flow FX liquidity provision in which the vast majority of multi-dealer platform (MDP) brokerage liquidity pools permitted direct or indirect spot FX price-making by firms traditionally classified as buyside. ...show more

 

Laying the foundations FX takes steps to secure its future 

e-FX Industry Report

In the wake of a succession of scandals, FX market participants may have exhaled a collective sigh of relief at having, for the time being at least, averted regulation. But the principles based FX Global Code (the Code) is not yet the finished article and nor is everyone content with it....show more

 

What TCA should do to help achieve Best Execution

Trading Operations

MiFID II laid down the law - best execution is an absolute mandate, not a best efforts process. So let’s dig a little deeper into the connection between best execution and improved FX trading outcomes. After all, that’s the point, isn’t it? So it would make sense that there should be some analytical basis that supports this goal of improved trading outcomes. Transaction cost analysis – post-trade analytics – should clearly be a critical tool, among others, that drives this proof of best execution and more importantly guides FX traders to improved, future performance....show more

 

The Road to Automating Currency Risk Management

Treasury Automation

Since the financial crisis of 2008, currencies seem to be in a near-constant crisis. From Brexit to the plunge of Brazilian real and recent volatility in emerging markets currencies like the Turkish lira, global currency swings have become increasingly common and remain top of mind for CFOs and treasury professionals. ...show more

Devexperts: Delivering innovative products with a focus on the future

e-Forex Interview

Headquartered in Munich, Germany, Devexperts was founded in 2002 and currently has over 400 employees in different offices around the world. It specializes in the development of custom software solutions and services for the Capital Markets industry. e-Forex talks with Stanislav Stolyar, VP of FX Products at the firm to understand where they stand in the increasingly competitive landscape of vendors and how they are facing modern challenges in the world’s markets....show more

 

Blockchain gets as easy as ABC

Blockchain and CryptoCurrencies

Soon, we’ll all be enabled, says William Essex. ...show more

Blockchain around the world

Blockchain and CryptoCurrencies

Blockchain around the world...show more

 

Collateral goes digital

Blockchain and CryptoCurrencies

OTCXN has signed Kingdom Trust and Prime Trust to act as custodians of assets for traders and exchanges on the company’s blockchain-based network. What does this mean for the future of crypto-trading? Rosario Ingargiola, CEO and founder of OTCXN, spoke to William Essex about tokenisation and risk....show more

 

FX Futures. Welcome to the New Normal

Sponsored Statement

Many FX participants are already reviewing their FX operating model, building support for FX clearing and Futures in addition to their OTC FX. ...show more

FX on exchanges seems set for dramatic growth

FX on Exchanges

The FX market has always historically been traded over-the-counter (OTC). Futures exchanges have always listed currency contracts, but the largest bulk of the more than $5 trillion per day market has been done bilaterally – even the post-crisis reforms have seen little of that volume move to a centrally cleared model, unlike other asset classes like interest rates and credit....show more

 

Impressive global growth continues at IS Prime

Sponsored Statement

IS Prime, part of ISAM Capital Markets, is one of the fastest growing Prime of Prime brokers globally. The FCA regulated firm has a reputation for excellence in terms of liquidity, multi-asset execution and risk consultancy services for institutional clients. e-Forex talks to Managing Partner, Raj Sitlani to find out more....show more

 

Stater Global Markets focuses on global expansion

Sponsored Statement

Michael Davies has joined Stater Global Markets in a newly created Global Head of Sales role. e-Forex finds out more about his new role and his views on the importance of a Prime of Prime having no vested interest in the liquidity or technology it provides to institutional clients....show more

 

Invast Global. The Perfect Blend of Eastern & Western Expertise

Meet the team

Invast Global is an award-winning multi-asset class prime broker based in Sydney, Australia. Its publicly-listed Japanese parent company – Invast Securities Co. – has a 60-year history as a Securities brokerage and enjoys stable, long-standing relationships with numerous tier-1 bank Prime Brokers. We spoke to Gavin White, CEO of the company to discover more about why his division of the group has been performing so strongly and what roles his highly experienced executive team are playing in driving the extraordinary growth of the business....show more

 

LUSIS: A leading FinTech company looking to leverage the power of Artificial Intelligence and Data Science

Provider Profile

LUSIS is a leading French software and IT services provider that launched more than 15 years ago. The company is well known for offering advanced software solutions to the global retail payment industry for critical online transaction processing but it also provides FX brokerage platforms and other trading related services . After launching a dedicated Artificial Intelligence department it has now started to create AI based trading strategies. We asked Fabrice Daniel Head of the AI team at the firm to tell us more about these and some of the other FinTech solutions it now offers....show more

Gold-i Ambitious Growth Plans

ALGOFX LAB

Gold-i is celebrating ten years in business – a decade in which the market- leading FinTech company has continually pushed boundaries with its innovative software to help brokers worldwide to operate more profitably and manage their risk more effectively. e-Forex spoke to Gold-i’s Founder and CEO, Tom Higgins, to find out his views on the company’s success to date and hear more about its future plans....show more

 

Quality versus Quantity - Tipping the balance in FX Liquidity

FX Brokerage Operations

Nicholas Pratt examines why fewer but deeper relationships between FX brokers and LP’s holds the key to accessing superior liquidity....show more

 

Modern Technology : Traditional Values - VIBHS Financial is a firm that takes pride in building relationships with all its clients

Broker Profile

VIBHS Financial Ltd, is a fast growing London Based Foreign Exchange broker regulated by the Financial Conduct Authority, The firm provides Forex, CFD trading and related services to retail and institutional customers across the globe. We spoke to Angus Irvine, CEO and Lee Holmes Director – Sales and Operations, to learn more about its products and services...show more

 

Dollar bears enter 2019 in the driver’s seat

Currency Clips

Widening interest rate differentials between the United States and other major economies ensured king Dollar reigned supreme in currency markets last year. ...show more

 

Investors pushing in both directions, however, Euro could drop in Q1 2019

Currency Clips

Released in December, the Eurozone GDP Year on Year figure came out lower than the previous result. The actual figure was announced at 1.6% growth, following the 2.2% growth figure of the previous period.  ...show more

 

Tax hike and global slowdown threaten Japan’s economy in 2019

Currency Clips

Next October, Prime Minister Shinzo Abe confirmed a raise in consumption tax from 8 to 10 %.  The last consumption tax increase, in 2014, sparked a recession, is there a chance that Abe might postpone the hike once again if economic indicators show a similar scenario? To offset any negative impact to the economy, the government is set to implement fiscal measures and policies, includes free pre-school education, tax breaks for car and home owners, and tax reduction on certain foods and beverages, to alleviate the burden on households....show more

 

Aussie Dollar playing on ‘Defence’

Currency Clips

To use a sporting analogy, the Australian Dollar (AUD) has been playing on ‘defence’ to start 2019. In fact, the currency has kicked off the new year on the same weaker footing with which it ended 2018, with conditions in the global trading environment being less-than-conducive for higher-risk currencies such as the AUD....show more

 

Ethereum’s upcoming hard fork to further fuel wider cryptocurrency rally

Currency Clips

Ethereum’s price will “continue to soar” throughout 2019 – and a main driver of the continued rally will be this week’s hard fork. The comments from influential tech expert Ian McLeod of Thomas Crown Art, the world’s leading art-tech agency, come as the second largest cryptocurrency has secured an impressive rally over the last month....show more

 

The FX Global Code - An overview of progress to date

Regulations & Compliance

In September 2018, the Global Foreign Exchange Committee (GFXC) launched a new survey that measured awareness and adoption of the FX Global Code (the Code) among market participants. We asked Roger Rutherford, COO of ParFX and a member of the ACI FX Committee who has been involved in the establishment of the Code from the outset, to tell us more about this initiative and to provide an update on the working groups the GFXC has created to focus on four priority areas: “cover and deal” trading activity, disclosures, buy-side outreach, and integration of the Code in the FX market. ...show more

Encouraging fairness and transparency: How the FX Global Code will help asset managers win business

Regulations & Compliance

The FX Global Code aims to create fair, liquid and open FX markets by encouraging better governance, sounder risk management, higher standards of operational safety and fuller knowledge of execution practices for all market participants. So what efforts are being made to promote the Code to the buy-side and why is this so important?...show more

 

The FX trading technology landscape - key trends and forces at play

e-FX Industry Report

FX technology is at an interesting juncture. The FX market is going through structural and secular shifts and absorbing regulatory and capital changes that have shifted trading volumes. Technology demands are increasing as the market fragments and digests regulatory change. ...show more

 

The Once and Future FX Market

Market Commentary

The Christmas and New Year break provides an essential opportunity for compulsive hoarders, among whose number I must include myself, to review and dispose of old journals and press clippings cut in years long gone by. Progress is slow in my clean-up. I am distracted by articles that make me think – “oh, that became so true” and occasionally by articles that were the opposite. I need to be careful of chronological snobbery – “It was so obvious!”, I declare with crystal clear hindsight– well it certainly wasn’t back then....show more

 

FXSpotStream - Operating a business model that’s simple, clear and compelling

e-Forex Interview

FXSpotStream, a subsidiary of LiquidityMatch, is the bank owned consortium operating as a market utility which was formed in 2011. e-Forex talks to their Co-founder & CEO Alan F. Schwarz, about the reasons for the extraordinary popularity of his service and future plans....show more

 

Who cares about cryptocurrencies?

Blockchain and CryptoCurrencies

William Essex explains that cryptocurrencies are an expression of the blockchain but wonders whether they are necessary....show more

 

Blockchain around the world

Blockchain and CryptoCurrencies

Blockchain around the world...show more

 

Blockchain plus

Blockchain and CryptoCurrencies

Adel is a technology incubator for blockchain innovation. Not unusual these days, but there’s a twist. Adel’s approach seems to be pulling in the FX industry. “A majority of registered users in our ecosystem are FX and crypto traders,” says Gabriel Dusil, general manager and co-founder, Adel. William Essex went to talk to him....show more

 

The newly enriched FX data service from SWIFT

Spotlight

The newly enriched FX data service from SWIFT uses real transactions to measure activity share and competitive position on an instrument-by-instrument basis. We spoke with Juliette Kennel, Head of Securities and FX Markets at SWIFT to learn more about it....show more

 

Jefferies - Quickly moving to become a pre-eminent FX service provider

Provider Profile

Jefferies Foreign Exchange offers clients the ability to trade using powerful and flexible e-commerce solutions or via traditional voice broking channels with its FX centers in New York, Singapore and London. The company has recently been ramping-up its FX capabilities. e-Forex asked Brad Bechtel, Global Head of Foreign Exchange at Jefferies, to tell us more about this and plans for growing the FX side of the business further....show more

 

Cryptocurrencies - Are they the future of money?

Expert Opinion

Cryptocurrencies, such as Bitcoin, Ethereum and Ripple XRP have truly caught the world’s attention in recent years. According to many cryptocurrency experts and analysts, digital currencies represent the biggest, most important shake-up in the global financial sector since the 2008 financial crash. Indeed, the world’s first and largest cryptocurrency, Bitcoin, was introduced following the financial crisis, as people across the globe were calling out for a decentralised currency....show more

 

Regional e-FX in Australasia - Engineering The Road Ahead

Regional eFX Perspective

Most large FX players in Australasia now use electronic foreign exchange trading. However, although there is room for volume growth what is really changing the landscape is the technical sophistication of trading and services now on offer in the regional market....show more

 

View From The Top: Stater Global Markets’ CEO, Ramy Soliman, talks about global growth

Sponsored Statement

View From The Top: Stater Global Markets’ CEO, Ramy Soliman, talks about global growth...show more

 

Eight demands traders have for their brokerages

FX Brokerage Operations

Devexperts build trading platforms for different brokerages servicing over six-million traders worldwide. Over the past fifteen years, we have gained insight into what traders look for in a broker’s platform. Here are eight of the demands traders have that brokerages should be listening to, and how to meet them....show more

 

Delivering more cost effective crypto trading infrastructures

Special Report

Joe Morgan investigates the cryptocurrency market and explores what key trading tools and infrastructure is going to be required for brokers and institutional firms who are looking to enter the space....show more

 

Market Trends for 2019

Sponsored Statement

e-Forex talks to Tom Higgins, CEO, Gold-i about his views on market priorities for 2019 and Gold-i’s focus on helping brokers to become more profitable....show more

 

Tools For Brokers adds to offerings

Product Launch

Leading international technology company, Tools For Brokers provides software solutions to brokerage firms across the foreign exchange and cryptocurrency trading markets. The company has recently been making headlines with the launch of several new products including a powerful liquidity management platform. e-Forex talks with Tools For Brokers’ COO Albina Zhdanova to learn more about these developments and the plans the firm has for the future....show more

 

Future proofing your business needs - Why the cloud is set to play a more central role in FX

Networks, Hosting and Connectivity

Dan Barnes investigates how foreign exchange trading and infrastructure is being transformed through smart application of cloud services....show more

 

PLUGIT - Delivering technology solutions that help clients to maximise profits, minimize risks and optimize operations

Provider Profile

PLUGIT is a leading technology provider specialized in the FX industry with an international presence and professional services extending from consulting and training to solution development, implementation and support. e-Forex talked to Jalal Faour, CEO of the firm and asked him to tell us more about the key products and services that the company now offers....show more

 

Robo-Advisers - Welcome To The Future

Automated FX Trading

Capital markets are increasingly dominated by artificial intelligence and the rise of robo-advisers. Viet Anh Pham provides an insight on the impacts of AI-driven trading solutions on the foreign exchange trading space....show more

 

GO Markets - Working to become the low cost FX provider of choice

Broker Profile

GO Markets has broken ground many times, being one of Australia’s most established FX brokers. Many on the current GO Markets team have been there almost since inception. The company is currently expanding in terms of its offerings and global reach. e-Forex’s Larry Levy recently caught up with Christopher Gore, GO Markets CEO, to find out more about the latest developments at the firm....show more

On the road to automation with Paul Langham

Tradertalk

With leading professional trader and forex educator Paul Langham....show more

 

Dollar bulls and the divergence trade

Currency Clips

By Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM...show more

 

EU revised GDP growth due to uncertainty

Currency Clips

Michael Kopanakis is head of brokerage at SquaredDirect...show more

 

Stop-Start Growth in Japan: Yen is controlled so BOJ can drop inflation goal. Could the worst be behind?

Currency Clips

By Reem Aboul Hosn, Research and Market Analyst Officer, CFI Ltd...show more

 

Aussie dollar remains under pressure

Currency Clips

By James Hughes, Chief Market Strategist at AxiCorp Financial Services Pty Ltd...show more

 

Six questions that buy-side participants and vendors must ask in FX

e-FX Industry Report

While the onset of electronic trading has certainly created new opportunities, it has also dramatically increased challenges for all market participants. This Industry Report focuses on six questions that all buy-side players and their vendors must address to thrive under the new FX market order....show more

 

Automating FX Workflow is no longer a luxury

Leader

Buy-side firms globally are under pressure to automate their processes, as they strive to streamline operations while cutting risk exposure and costs....show more

 

Optimising Market Impact with an efficient trading frontier

Trading Operations

The ability to trade depends on sufficient market depth and diversity of participants. Each new trade jolts the market out of equilibrium, skewing the market away from the mid-rate. Market impact costs arise as a result of a call on the available liquidity. Each trade changes the market. Is it therefore better to trade all in one go, or trade in increments over time? ...show more

 

Analytics - taking the guesswork out of FX execution

Expert Opinion

By David Cooney, Co-founder and CEO of MahiFX...show more

 

AxiCorp: discovering what it takes to build a respected global brand

e-Forex Interview

AxiCorp is a leading online margin trading and institutional financial services provider serving more than 30,000 active clients in more than 150 countries. The company launched in Australia in 2007 and has its head office in Sydney, but has grown into a global business with offices in London, Dubai, Singapore, Shanghai, Philippines, Ukraine and Cyprus. e-Forex spoke with CEO Rajesh Yohannan to learn more about the business, its products and services and how his team have gone about building a respected global brand....show more

 

OTCXN - A company focused on improving and replacing financial market trading infrastructures

Product Review

OTCXN is a capital markets infrastructure company using proprietary blockchain technology to eliminate the need for traditional intermediaries and trust between trading counterparties, reducing the risk, friction, and cost of trading. e-Forex spoke with Founder and CEO Rosario Ingargiola to find out more about the firm’s products and business model....show more

 

That ever-shrinking distance between OTC and Listed FX

ALGOFX LAB

The FX market is the largest and only truly global capital market. With the most diverse set of participant types, each with disparate trading ambitions and time horizons, it’s a market that has always operated as a set of pools of activity, which are bridged by the firms providing liquidity to specific client sets then using other pools to offset and manage their risk. While the abundance of pools still rings true, the FX market is quite a distance through a front-to-back evolution that has changed it from where bilateral and disclosed liquidity was the norm, to a landscape where there are multiple routes you should consider in order to get the trade you need, done....show more

 

Exchanges bolt down FX risk as volumes soar

FX on Exchanges

Exponential FX market growth – which has resulted in a turnover of about $5.1 trillion per day – coupled with increasing geopolitical risk and volatility is bolstering demand for centrally cleared, exchange-based FX services....show more

 

Lucera - Offering firms the low cost way to manage, deploy and scale their FX trading systems

Provider Profile

Lucera is an industry leading technology provider which provides best in-class on-demand co-located infrastructure and connectivity services. e-Forex talked with the company’s CEO, Peter Durkan to learn more about their products and services and the role Lucera is playing in changing how the FX market connects and trades....show more

 

Institutional cryptocurrency trading – addressing some of the key technology issues

Trading & Technology Clinic

Many regional banks and smaller institutions are looking at adding cryptocurrencies to their portfolio of products and services. David Vincent, CEO of smartTrade Technologies looks at some of the technology considerations that are involved with this....show more

 

Digital intelligence for smarter FX - extracting, decoding and exploiting trading network data

Special Report

David Murray explores the type of data that FX trading firms and venues can derive from their trading networks, how it can be analysed, deployed and utilised....show more

 

Stater Global Markets’ clients reap the benefits of RegTech

Sponsored Statement

FCA regulated Prime of Prime, Stater Global Markets has been able to fast track growth by using the very latest technology and forging partnerships with the best technology providers in the industry. The firm’s Head of Compliance, Simon Henry and Strategic Advisor, Ashraf Agha talk to e-Forex about how Stater’s clients are benefiting from RegTech and other machine learning-based systems. ...show more

 

How AI is helping FX mature as an asset class

Expert Opinion

Stéphane Leroy talks about how FX markets are currently within a period of intense, rapid transformation, meaning now is the time to take advantage and apply next-generation technologies such as AI and machine-learning...show more

 

Complacency Risk of AI Adoption

Technology

Having grown up in the 90’s when the latest ‘must-have’ toy was the GameBoy and Michael J Fox was the envy of every child with his hoverboard in Back to the Future Part II, one cannot fail to be impressed or excited by everything that artificial intelligence has to offer. Sure, the doomslayers will always emphasise the negative impact of such revolutions but like any risk, there is opportunity and none more so than in trading. ...show more

 

Leveraging Machine Learning for FX trading

Technology

Interest in Machine Learning is exploding and all businesses consider it as a prime future-reshaping initiative. FX e-trading provides a large amount of data which can be considered the required fuel of Machine Learning computing. Yet, as in all new hot trends, there is a large amount of misunderstanding and hype about what machine learning is and can do. Medan Gabbay, Chief Revenue Officer of Quod Financial investigates....show more

 

Operational security: wallets, trust and safety

Blockchain and CryptoCurrencies

A few years ago, one of my acquaintances was involved in the development of a Bitcoin client and had a nice little holding. At the time it was several hundred coins, bought relatively cheaply in today’s terms. He spent a lot of time bigging-up Bitcoin on social media, telling people why they should invest in it. It was around then that I bought a few myself, so I have skin in this game, though it was not because of anything he said. Until quite recently, I kept these coins securely in offline storage in my home, because I didn’t trust any form of centralised custody....show more

 

Gold-i’s Multi-Asset Liquidity Management Platform: Matrix

FOCUS

Gold-i is driving the market forwards in terms of multi-asset liquidity management. e-Forex spoke to Tom Higgins, CEO, Gold-i to find out about the product’s main features and benefits....show more

Asia expo shines a light on the future of forex

Market Commentary

The retail forex industry is perpetually evolving as brokers adapt to changing demands from both clients and regulators alike. Given the combination of rapid growth and accommodative regulation, Asia is helping shape much of where the market goes next. As a result, the annual iFX Expo in Hong Kong is now seen as a firm fixture for many in the global derivatives industry. Andrew Wood, Business Development Manager for CMC Institutional in Asia Pacific travelled to the Expo at the start of the year. The event provides a forum for banks, brokerages and technology firms to share their ideas on the industry, the challenges it faces and where the sector is heading next. On his return, we asked Andrew for his take on where the market would likely go next....show more

 

White Labelling for the open banking generation

FX Brokerage Operations

If you’re a broker or wealth manager serving retail and professional clients the likely secret to your success is probably a combination of ‘front-office’ factors. End-users may value your keen and dynamic pricing, your ability to identify relevant new trends and opportunities, your intuitive and easy-to-navigate user interface – or a mix of these and other features. As we all know, creating a unique and compelling client experience is impossible without the middle- and back-office building blocks that support it....show more

 

Know Your Customer

Retail FX trading

The Hollywood archetype of a ‘trader’ is a simple one – the lone, mid-thirties male, engulfed by a panel of computer screens, each of them lit up by an array of charts, streams of real-time data flowing, global news feeds scrolling and orders being executed with the dexterity of an X-Box gamer and the emotionless accuracy of the military sniper. But in truth, the leverage trading population is enormously diverse, comprising traders of all ages, wealth levels, trading experience, risk appetite and investment horizons. And what is clear, is that even starting from this level of diversity, the demographic profile of the trading population is shifting quickly....show more

 

Price is the boss

Insights

With Andreas Thalassinos, Head of Education at FXTM...show more

 

Yen’s lure amid US-China trade uncertainties may dampen Dollar index

Currency Clips

Amid the recent ramp-up in US-China trade tensions, market observers wouldn’t have been faulted for expecting the Dollar to rise on the wings of risk aversion. Instead, in the days leading up to May 10 when US tariffs were more than doubled to 25 percent on $200 billion worth of Chinese imports, the Dollar index continued weakening towards the 97-support level....show more

 

Global trade issues prolong Euro uncertainty

Currency Clips

Since my last analysis on the 15th of March, more key factors affecting the Euro and the Eurozone, after Draghi’s last speech at the ECB conference, need to be taken into consideration. There has been weakening growth within the Eurozone and this has affected the future inflation forecast as well. The Headline inflation predictions have also been downgraded by the ECB, thus forecasting inflation at 1.6% for the financial year of 2021....show more

 

Central bank’s forward guidance suggests inflation target remains a long way off

Currency Clips

The Bank of Japan has vowed not to raise interest rates before spring 2020. A specific date gives markets better certainty during the next year, with nobody expecting a rate rise, and will unlikely make any substantial difference to the economy....show more

 

Headwinds impact Australian Dollar

Currency Clips

There are huge headwinds causing the Australian dollar to remain under pressure over recent weeks, all of which show no signs of changing in the short term. Add the major economic headwinds to the upcoming federal election, and the uncertainty this causes and you can understand why the Aussie is finding it hard to cling on to any of the recent rallies. The Australian Dollar had a slightly more positive start to the month despite a decidedly negative start for global stock markets which would typically be met with sharp declines in the Aussie currency. Global markets have fallen into the red on concerns that the U.S.-China trade war may re-escalate....show more

 

A flash in the pan or a systemic change?

Market Commentary

James Sinclair, executive chairman at MarketFactory, sets out to define a flash event, ask how frequent they are, determine what factors cause them and how market participants may minimise their impact...show more

 

Making the case for change in Post-Trade FX processing

Trading Operations

As return on equity in financial markets continues to remain stubbornly low and often below funding costs, business leaders need to consider their options to address core underlying profitability. Many have already deployed the traditional options of offshoring, nearshoring, outsourcing. And still industry wide ROE is below 10% against a higher cost of capital. This position is not sustainable and so new approaches and different target operating models need to be considered....show more

 

Counterparty collaboration

Liquidity Management

Exploring new ways to deliver deeper insights into your FX trading operations ...show more

 

Why now is the time for heads of FX desks to shift their technology mindset

Expert Opinion

Integral’s Chief Revenue Officer Vikas Srivastava offers his perspective on how heads of FX desks can use technology strategically to future-proof their trading and operations while still doing well in a low volatility environment....show more

Stater Global Markets: The specialist Prime of Prime that offers bespoke and high quality services to meet client requirements

e-Forex Interview

Stater Global Markets is a London-based Prime of Prime brokerage which offers institutional clients direct access to Tier 1 bank and non-bank liquidity, clearing and institutional grade technology for FX and CFD trading.  The firm, which is authorised and regulated by the Financial Conduct Authority (“FCA”), has a global client base and offers customisable multi-asset liquidity and technology solutions of the highest calibre. ...show more

 

ParFX - Bringing increased fairness, equality and transparency to the FX market

Provider Profile

Since ParFX’s inception in 2013, the company has been at the forefront of efforts to bring about change to the industry. It played a role in the development of the FX Global Code through its participation in ACI’s foreign exchange committee and was one of the first to sign up. e-Forex spoke to Roger Rutherford, Chief Operating Officer at ParFX, to discover more about the unique aspects of the platform and business model, and the steps it will be taking to continue its mission of improving trading behaviour in the FX market....show more

 

Electronic FX in African Markets - A giant growth story across both distance and diversity

Regional eFX Perspective

e-FX in Africa is a huge opportunity. The winners will be those businesses that can span the continent and harness technology to deliver services to a huge and varied range of clients, writes Richard Willsher....show more

 

Financial Clouds in FX - Leveraging a new operating model

Trading & Technology Clinic

By Guillaume Spay, Global Solution Director, Treasury Capital Markets at Finastra....show more

 

Advanced Markets: Offering clients access to an international team of FX experts

Meet the team

Advanced Markets is a company focused on bringing true Direct Market Access (DMA) liquidity, credit and technology solutions to the foreign exchange, energy, precious metals and CFD markets. The firm has put together an international team of FX experts who are located all over the world. We asked key members of this team to tell us a little more about their individual roles and responsibilities, the clients that the firm is servicing and their thoughts on how Advanced Markets is adapting to the fast changing FX landscape....show more

 

How Colocation, Connectivity and Content can boost your FX trading firm

Expert Opinion

By Stefano Durdic, Managing Director of Financial Services, Transaction Network Services...show more

 

Isolating signal from noise - What factors really are important when choosing your FX liquidity provider?

FX Brokerage Operations

There is an increasing awareness among brokers and institutional trading firms that quality rather than quantity works best when sourcing liquidity. This has resulted in a shift away from linking to the maximum number of liquidity providers (LPs) on the basis of simply obtaining the best price to establishing deep and long-term relationships with a small panel of LPs. Joe Morgan reports....show more

 

Safeguarding FX operations

Expert Opinion

In every industry, there are movements and shifts to public cloud. Amazon, Google and Microsoft are taking the lead, moving significant amounts of computing requirements to cloud services, and a significant portion of the marketplace is adopting noticing and following suit. In this article, I will discuss the role of public and private cloud in the FX trading environment, and how firms can ensure they are adequately protected....show more

 

The role of Connectivity in global FX trading

Networks, Hosting and Connectivity

The factors that influence FX network connectivity are diverse. Regulations govern the culture of trading in FX as they do other asset classes; technology provides the tools while market participants and......show more

 

Broctagon Fintech Group

Provider Profile

Having a chat with one of the world’s fastest-growing FX and cryptobrokerage solution providers...show more

 

In the world of crypto trading, it's better to be smart than fast

Blockchain and CryptoCurrencies

In an industry as technology-centric as crypto trading, it’s somewhat ironic that speed might be less important than many people might think....show more

 

Capturing Capital Requirements: Gold-i’s Business Intelligence and Risk Management Tool: Visual Edge

Sponsored Statement

All brokers operating in the EU, whether they operate under a 125k licence or a 730k licence, are no doubt aware that under the Capital Requirements Regulation Directive 4, they need to be capturing their Capital Requirements. ...show more

 

How technology will shape the trading behaviour of tomorrow

Technology

Mobile technology opened the door for the individual trader. Prior to this technology, prospective traders were bound by location and inhibited by daily routines and obligations. From conception, the percentage of trades made via a mobile platform and the amount of trade volume has steadily increased....show more

 

FX strategy automation for retail traders

Automated FX Trading

Forex robots, Expert Advisors and Artificial Intelligence, all of these words are probably familiar right now to retail Forex traders. They may be thinking, “I don’t need any of that to trade the financial markets, all I need to do is click a button!”. Well, the professionals are saying otherwise, hedge funds such as Renaissance Technologies and Bridgewater are already using Artificial Intelligence and computer modelling with great success in trading. Why do these firms even bother using automated systems?...show more

 

Why standards in FX present a huge opportunity

e-Forex Interview

By removing barriers to exchange, standards always increase the amount of business done. They cut costs, widen margins, expand opportunities and reduce risk....show more

 

Dollar running on borrowed time as Fed dangle keys to rate cut

Currency Clips

King Dollar’s iron throne will be under threat during the second half of 2019 as expectations intensify over the Federal Reserve embarking on a monetary policy easing cycle....show more

 

The Euro climbed to 1.1412 but Eurozone uncertainty dampens growth

Currency Clips

Moving into the start of Q3 of the current financial year, the low point - as we can see in our previous analysis back in the start of May 2019 - according to our estimations has been reached (1.11) and the pair has since changed its trend and seems to be rather bullish as the Euro managed to break above significant resistance and psychological levels after two consecutive upward rallies, currently trading around the 1.1330 level, having first reached 1.1412....show more

 

Yen loses gains amidst mixed fundamentals

Currency Clips

Prime Minister Shinzo Abe has twice avoided raising the consumption tax, quoting domestic and international economic uncertainties. This time however, despite mixed economic signals and the tax’s unpopularity among voters. Abe appears determined to go ahead with raising the tax. His administration last month approved an annual economic plan confirming the hike in order to cover spreading social security costs....show more

 

Aussie Dollar advances but stoppers are imminent

Currency Clips

The Australian Dollar advanced after the latest official figures cast China’s economy in a resilient light despite the ongoing trade spat with the US. This helped to boost sentiment toward all risk-sensitive assets and leave the Aussie well placed. However constant global rate cut discussions could be about to put the stoppers on the potential for long term upside....show more

 

The smiling family on the train is not paying in USD

Market Commentary

Much has already been said on the topic of Belt and Road and its affect on the global economy moving forward. There is also debate on, if and when the UK will join other European nations in adopting the grand project officially. One thing that cannot be denied is the important role that London will play as the place to make all of the financial arrangements happen....show more

 

Is there a case for a shared / utility platform approach in today’s FX market?

Trading Operations

David Woolcock explains why we can expect to see a bright future for shared co-operative platforms in FX....show more

 

SIBOS London 23-26 Sep 2019

SIBOS 2019

Welcome to our special Sibos 2019 FX Report. This year Sibos is taking place in London and the conference theme – thriving in a hyper-connected world – recognises the challenges, and opportunities that mass digitisation and data-driven relationships present for the Sibos community....show more

 

The FX sellside is challenged by changing structural dynamics

SIBOS 2019

In 2019, the wholesale FX market is not the market of yore. Formerly, the defining characteristic of the currencies trading landscape was liquidity fragmentation and siloed pools of cash held within geography-specific currency pairings. Following the financial crisis, commercial, regulatory, trading technology costs management and technological advancement pressures eroded the broker-dealer centric market structure in liquid instruments, paving the way for new, exchange-like all-to-all (A2A) market structures within the leading liquidity centres. ...show more

 

FX Markets: the balancing act between direct regulation, new technology and principles-based supervision

SIBOS 2019

With more than 2,000 asset managers and corporates already using the SWIFT network to confirm their FX trades with and through banks as well as FX platforms and non-bank liquidity providers, SWIFT users can adopt and implement the principles of the FX Global Code in their day-to-day business without incurring significant cost. An asset manager’s use of SWIFT, for example, could itself facilitate alignment with up to 14 of the Code’s 55 principles. Nevertheless, many buyside firms have still not signed up to the Code. eForex spoke to Galina Dimitrova, Director for Investment and Capital Markets at The Investment Association, to discover buyside attitudes to the Code....show more

 

RegTech in FX Seizing the opportunity

SIBOS 2019

FX market participants have traditionally approached technological solutions for regulatory compliance as a series of tactical projects where the goal is to implement the minimally viable solution in the shortest possible time frame. Given the rapid pace of regulatory change in the past few years, it is easy to see why many institutions have built infrastructure that is regional, siloed by asset class and product, reliant on manual processes, and expensive to update. Here we ask Jeff Heine, Chief Revenue Officer at Ascent RegTech to tell us more about how RegTech can help FX trading firms overcome many of the issues associated with tackling regulatory growth....show more

 

Exploring the history and key focus of the BIS Triennial Survey

SIBOS 2019

Earlier this year the Bank for International Settlements (BIS) launched the 12th Triennial Central Bank Survey of Foreign Exchange and Over-The-Counter (OTC) Derivatives Markets. Conducted every three years since 1986, the Triennial Survey is the most comprehensive source of information on the size and structure of global foreign exchange and OTC derivatives markets. It aims to help central banks, other authorities and market participants monitor developments in OTC markets and inform discussions about reforms to OTC markets. As we await the preliminary results for turnover which are due to be published by the BIS in September 2019 we asked Andreas Schrimpf, Principal Economist, Secretary to the Markets Committee at the BIS to give us a little background information about the survey and its history....show more

 

SWIFT works to unlock the value from its FX data

SIBOS 2019

Robust and reliable data is a core requirement for participation in FX markets at any level and in any capacity. But where can such data be sourced in sufficient depth and in real-enough time to hold its value through any transactional or analytic requirement? e-Forex spoke to Juliette Kennel, Head of Securities and FX Markets, SWIFT, and Sam Romilly, Head of FX New Business Development, Capital Market, SWIFT, who can answer that question. ...show more

 

The role of independent data in meeting regulatory obligations and helping to manage FX costs

ALGOFX LAB

It is important that asset managers are asked to measure their FX transactions against independent data to eliminate any accidental flattering of FX costs by managers. Once the costs are determined it is then a relatively simple task to begin managing them. The most important thing to recognise is that paying too much for FX, delivers no additional benefit for buyside firms whatsoever. It’s simply a drain on their portfolios. e-Forex spoke with Andy Woolmer, CEO of New Change FX, the award winning FX data company to learn more about measuring and managing FX costs....show more

 

FX Market Data: Overcoming the challenges and unlocking the potential

SIBOS 2019

It has become critical for increasing numbers of institutions across the FX market to have access to accurate market data to meet the growing focus on internal risk and control processes, regulatory compliance and the need to drive market analysis and profitable trading decisions. In today’s competitive FX landscape, gaining and rapidly actioning insight into execution quality and operational efficiency are seen as key to gaining a trading performance advantage. We asked Louis Lovas, Director of Solutions at OneMarketData to provide some perspectives....show more

 

Improving liquidity management – can the industry rise to the challenge?

SIBOS 2019

Effective liquidity management - and in particular, the management of intra-day liquidity - is a high priority for banks. It’s also a focus for regulators. Why is this, and how can banks respond cost-effectively, compliantly, and above all in ways that enhance their competitive edge with clients? e-Forex went to Angus Scott, Head of Product, CLS Group, for the answers....show more

 

Exploring the shifting ecology of FX Liquidity and future role of banks as providers.

SIBOS 2019

e-Forex talks to Dmitry Ilyaev, Head of eFX and Spot Trading at Commerzbank...show more

 

How are people changing their FX workflows to prepare for the next digital age?

SIBOS 2019

Seamless, end-to-end trading efficiency from front-end execution to back-office processing has been a core objective of all FX market participants for many years. Direct connectivity between platforms and FX risk managers is now a reality, thanks to recent innovation in APIs and the broad adoption of connectivity standards. These in turn have enabled FX pricing and transactions to be embedded directly within client workflows - so that even simple processes, from making payments to settling invoices all the way to complex balance-sheet management, can have embedded FX capabilities. But will today’s plethora of established technology providers in the eFX workflow space - delivering services including confirmation matching, aggregation, compression, reconciliation and settlement - be replaced by APIs and other new digital technologies? As innovation continues, are we close to real-time cross-border FX payments? e-Forex spoke to David Leigh, global head of FX spot and electronic trading at Deutsche Bank, to find out what the future holds....show more

 

How to reduce post-trade costs in FX

SIBOS 2019

Unlike the equity markets, post-trade processing in FX is disjointed. Multiple vendors and market infrastructures compete to message, match, confirm, aggregate, clear, net, credit-check, novate, compress, allocate, reconcile, settle and report trades. Legacy technologies and bespoking of services cause multiple reconciliations which necessitate high levels of manual intervention. As a result, costs and risks are indefensibly high. To discuss how to make post-trade more efficient, SWIFT invited a group of experts to an on-line discussion. Sam Romilly, head of FX new business development at SWIFT, shares with e-Forex what he learned from the discussion....show more

 

Harnessing the benefits of more automated FX trade lifecycle operations

SIBOS 2019

FX markets are unique not only in their scale but also in their complexity. There are multiple trading paradigms, and also multiple venues where trades may be executed. The FX eco-system is highly fragmented and the case for more automation – more automated FX-trade-lifecycle processes and procedures – has been clear for some time. And yet, automation hasn’t happened yet. Why not, and when will it happen? eForex spoke to Steve French, Head of Connectivity and Messaging for Traiana, about the challenges to automation, its benefits, and the key steps that firms should take on their journey towards implementing automation....show more

 

FinTech and its role in the future-proofing of FX

SIBOS 2019

Where do we invest next? For FX-market participants working towards digital transformation, one of the simplest challenges is also the greatest: technology doesn’t stop evolving. The flagship investment of today might be the legacy system of the day after tomorrow. William Essex discusses the future-proofing of FX....show more

 

Technology - Key to transforming the emerging market payments landscape

SIBOS 2019

Crown Agents Bank (CAB) has been a trusted partner to frontier market central banks and financial institutions for decades with a unique expertise in these markets. Serving a wide network of partners across Africa, the Caribbean, parts of Asia and the Pacific islands CAB now offers a range of solutions encompassing foreign exchange, international payments, pensions and payroll payments and trade finance. We talked to Steven Marshall (Chief Commercial Officer) and Colin Digby (Head of Banks and Non-Bank Financial Institutions) at the firm to discover what factors are influencing the fast-developing payments landscape across the emerging markets (EM’s) and what role technology will be playing here in the future....show more

 

OTCXN – showing us the power of the Blockchain in action

SIBOS 2019

OTC Exchange Network (OTCXN) is a global liquidity aggregation and exchange platform for both digital and traditional assets. All trading, clearing, settlement and lending on their network is powered by proprietary blockchain technology which the firm developed specifically for institutional trading. We asked OTCXN’s CEO, Rosario Ingargiola to tell us more about this....show more

FXTM: A leading financial trading provider that won’t waste your time

e-Forex Interview

The FXTM brand was initially launched in 2011 with a vision to provide superior trading conditions, advanced education and state-of-the-art trading tools for the retail forex industry. Since then the company has grown rapidly around the world winning many awards along the way. Its client centric-business model has been successfully built around high standards of customer service and a continuous focus on tailoring its products to suit specific markets. e-Forex spoke with CEO, Nicholas Defteras, to learn more about how his firm operates and what makes it different from many others in the space....show more

 

Reviewing the Mobile Trading apps landscape

FX Brokerage Operations

As we approach the end of the second decade of the 21st Century, FX and Crypto trading continues to be a buoyant business sector. In this article the founder of mobile trading app specialist MTP LLP, Paul G. Smith, examines the current state of the art for mobile access to trading systems. There is no longer any question about whether or not a broker needs a mobile presence, the only question is - what should that mobile presence be? However, this article is not going to be so relevant to white label “broker in a box” scenarios, in which the micro-broker does not have any control over its operational or technical infrastructure....show more

 

Gold-i accelerates development of Matrix

Sponsored Statement

Following recent announcements about the expansion of Gold-i’s development team, e-Forex spoke to Chris James, Chief Technology Officer at Gold-i to find out more about the innovative FinTech company’s current product development focus and future plans....show more

 

Prime of Primes: Well placed to meet the evolving needs of the global FX market

FX Brokerage Operations

With over a decade having elapsed since the 2008 financial crisis, Natallia Hunik takes a look back over the past 10 years of the FX Prime Brokerage business and outlines why the growth of Prime of Primes looks set to continue....show more

 

Technological advancements in retail trader platforms

Retail FX trading

In a digital age there’s no surprise that most our time is spent on smart phones. Smart phone statistics have rocketed over the past 5 years with now over 70% of people within the UK and USA owning a smart phone. Has the rise in accessible technology made it easier for retail Forex traders to trade or has it made it even more confusing? That’s what we’re here to tackle....show more

 

Reducing the burden: Exploring the opportunity cost of post-trade FX

Market Commentary

Anoushka Rayner explores the benefits of marketwide adoption of a modernised, centralised middle and back office which creates a joint record of all FX trades. The FX market is slowly being dragged into the 21st Century. Whilst front office processes have been transformed to accommodate the realities of electronic trading, other processes have been left behind. Most notably, outdated operations and credit systems which act as a significant drag on FX liquidity, as well as imposing an enormous cost burden....show more

 

FX algorithms: an investment manager’s ultimate best execution solution?

Trading Operations

Curtis Pfeiffer, Chief Business Officer at Pragma explains why one of the trading desk tools that has grown in importance are FX execution algorithms. Investment managers across the board, like their sell-side counterparts, face a challenging economic environment while simultaneously having to meet more stringent regulatory requirements such as MiFID II. The theme of ‘do more and do better with less’ is pervasive and no part of the investment manager’s organization is immune, including the trading desk. Trading desks continue to evolve under the external and internal pressures they face. As a result, one of the tools for traders that has grown in importance are execution algorithms, and in particular, FX algorithms. As one Greenwich Associates report title accurately highlighted, FX algorithms have gone from a “nice to have” to “need to have.”  ...show more

 

Automating the FX client onboarding and regulatory compliance process

Reg Tech

Keeping up to date and remaining compliant with regulatory requirements across a large number of jurisdictions is a complex and never-ending burden for financial institutions and FX trading firms worldwide. From what I’ve seen, financial institutions of all sizes are struggling and the majority, despite their best efforts, are falling short of their legal requirements. This is no great surprise as keeping up to date with the fast changing regulatory requirements all around the world requires a totally different operational approach to the methods which most financial institutions currently adopt. ...show more

 

oneZero Financial Helping to define the cutting edge of FX technology

e-Forex Interview

oneZero Financial is a leading global provider of FX and multi-asset class trading technology for the brokerage market. Its solutions enable brokers, prime brokerages and banks to centrally manage risk and exposure while allowing them to build customized liquidity pools for FX, CFD and exchange-traded products. e-Forex spoke to Andrew Ralich, CEO of the firm, to find out more about its current product mix and plans for maintaining its leadership in the future. e-Forex spoke to Andrew Ralich, CEO of oneZero Financial, a leading global provider of FX and multi-asset class trading technology....show more

 

High Touch and High Tech: FX traders can have both

Expert Opinion

In the modern world, many services have been automated to achieve maximum efficiency with minimal human effort. This effect has swept across many industries, including financial services, and it comes with both benefits and downsides. Tom Lazenga, Global Head of Sales for TNS’ Financial Services business, shares with e-Forex his insights into how FX traders can address the issues this raises....show more

 

Reading between the lines - Leveraging big data to identify new FX trading opportunities

Insights

Andrew Lane: CEO of Acuity Trading explains why understanding what the words of a news article ‘means’ to its readers, or more specifically to the global investment community as a whole, is key to finding value and opportunity in the FX markets from the news....show more

 

ML and Predictive Analytics: Where data driven learning interacts with FX algo trading

ALGOFX LAB

It’s little secret that FX businesses in many banks are struggling for profitability and adequate ROC. Coupling this with increasing regulatory data management requirements further darkens the picture. However, as Matthew Hodgson – Founder & CEO of Mosaic Smart Data - explains, there is actually a major opportunity implicit in this situation. If done well, machine learning technology, particularly in the realm of anomaly detection, can significantly enhance profitability across a firm’s FX business, including powering automation....show more

XaaS Exploring the benefits of more flexible delivery models for FX

Technology

e-Forex brings together Kieran Fitzpatrick, Head of FX at Broadway Technology, Eugene Markman, Vice President of Finance and Operations at MarketFactory, Annalisa Sarasini Chief Business Development Officer, smartTrade Technologies and Fabrice Benouaich Director, Business Performance & Insight at Finastra to discuss some of the key issues associated with the Everything As a Service model (XaaS) in FX....show more

Sucden Financial: Uniquely positioned to offer superior liquidity and pricing to FX clients

Meet the team

Sucden Financial has been offering institutional FX services for over 30 years and is a leading non-bank FX provider to a wide variety of clients who can leverage the firm’s expertise in creating & managing bespoke pools of liquidity. We talked to senior members of their e-FX team to discover more about the firms evolving product offering and how it’s working to stay at the forefront of the industry. e-Forex talks to senior members of Sucden Financial’s e-FX team to discover more about the firms evolving product offering....show more

 

Time for Hedge Funds to look into FX again

Expert Opinion

Natallia Hunik: Head of Sales at Advanced Markets and Fortex, Inc, explains why a growing number of hedge funds will be looking to leverage currency trading to their advantage and what steps they can take to get access to the market....show more

 

Kooltra - building technology to democratize capital markets

Provider Profile

Kooltra is a fast growing Canadian FinTech company with a mission to transform OTC capital markets, starting with foreign exchange and international payments. The firm’s focus is on post trade operations and driving end-to-end solutions that enable market participants to get up and running quickly and manage operations efficiently. Their solution is uniquely built on Salesforce, giving their customers access to the Salesforce Platform and the AppExchange. This architecture gives customers full control of their data, which spans transactions, cash, risk, compliance, CRM, market data, and more - all on one platform. These data can be accessed using all of the Salesforce reporting capabilities, as well as over API. Their current offering is targeted towards Institutional FX brokers, and they plan to push into FX payments in 2020. We asked Adam Katz, Founder & CEO, to tell us more about how Kooltra is leveraging this unique infrastructure to drastically reduce operating costs for downstream brokers and banks....show more

 

Leveraging the power of APIs for cryptocurrency trading

Blockchain and CryptoCurrencies

Simon Heinrich and Scott Weatherill, explore many of the issues associated with utilising APIs for trading cyptocurrencies. In September 2000, Roy Fielding defended his doctoral dissertation on the ‘REST’ (REpresentational State Transfer) software architectural style. He had a simple objective — creating a new standard for online messaging so that any server in the world could coherently talk to any other server. It was a huge step forward. To write his paper, Fielding got feedback from over 500 developers and laid out “a core set of principles, properties, and constraints that are now called REST”. ...show more

 

REGIONAL FX SNAPSHOT: THE MIDDLE EAST

Regional Provider Profile

Hussein Sayed tells us about FX in the Middle East...show more

 

Q4 Outlook: Dollar’s safe haven status should preserve 2019 gains

Currency Clips

The Dollar Index (DXY) is set to end the third quarter having gained more than two percent, and that’s even with two Fed rate cuts occurring during the period. Considering the downside risks that still plague the global economy, the Dollar is expected to hold on to its advances and end 2019 with gains for the year. The Dollar’s safe haven status has really kicked in amid US-China trade tensions and waning global growth, while pockets of geopolitical risks compound investors’ uncertainties....show more

 

USD gradual strength going into the fourth quarter

Currency Clips

Leading up to the July 2019 analysis we witnessed the EUR/USD pair gradually climb to the 1.1412 level and reach a peak, as predicted, since this period in the middle of the year the “bears” seem to have turned the tables and taken control of the trend throughout Q3. Looking forward to Q4 will this Dollar strength be able to hold up against forces of future potential FED rate cuts?...show more

 

Japan’s downgrades Q2 GDP as trade war hits business investment. What is BOJ’s next step?

Currency Clips

The Yen remains under pressure after the country’s GDP grew at a slower pace in the second quarter of 2019 by an annualized rate of 1.3% down from 1.8% growth y-o-y. Slower growth pace, weakness in the global economy and worsening trade protectionism, has intensified chances for Bank of Japan (BoJ) to deepen stimulus this month.  ...show more

 

What to look for in a Market Data vendor

FX Brokerage Operations

Conor O’Driscoll outlines why choosing a market data partner is an essential strategic decision and is much more than about data and technology. We will no longer eat a piece of chicken unless we can verify where it came from and be sure of the reputability of that source – market data should be no different. Market data is critical to the success of financial services providers. Choosing a data partner is an essential strategic decision; it is a multi-faceted process that means making sure your chosen provider has all of their bases covered. It is about much more than data and technology. The right partner must have a good cultural fit with your organization. They must understand your goals and be up to date on all best practices....show more

 

Demand for the Gold-i’s Bridge and MAM continues to rise

Sponsored Statement

Multi award-winning FinTech firm Gold-i has broadened its portfolio in recent years, with a significant focus on multi-asset liquidity management through its advanced liquidity management platform, Matrix. Whilst demand for its Matrix suite of products continues to grow amongst brokers worldwide, Gold-i’s Bridge and MAM – two of the original products in Gold-i’s portfolio – are still an intrinsic part of Gold-i’s business. e-Forex spoke to Gold-i’s CEO, Tom Higgins about the UK-headquartered firm’s range of products, in particular the Gold-i MT4 Bridge and Gold-i MAM Pro....show more

 

The Ingenuity of Unity: Why Plugit's new YOONIT platform is set to transform the FX sector

Provider Profile

The online trading industry has come a long way over the past 25 years, but retail brokers of different sizes have long faced major operational challenges, a typical one has been the sheer volume of work involved in running a successful retail trading site. While many of the key tools are widely available off-the-shelf, the lack of a truly unified solution meant that without significant capital, staffing expenses alone made operating a brokerage a cost-prohibitive proposition. ...show more

 

The opportunity benefit of holding gold

Currency Clips

Inflation expectations have been falling in many countries around the world this year. Gold is often viewed as hedge against rising inflation. Does the fact that people expect inflation to be lower from now on mean that gold can’t go any higher from here?...show more

 

Will Trump finally use his power to weaken the Dollar?

Currency Clips

In the first quarter of 2019 I expected the Dollar to turn lower against its major peers. Many factors were taken into consideration back then, including weaker economic prospects, dovish Federal Reserve, end of fund repatriation by US firms, and widening twin deficit. However, none of these factors were enough to end the King Dollar’s rally....show more

 

US FED cuts rates & maintains strength to wind Up 2019

Currency Clips

Q4 has now officially began in the wake of a new Fed rate cut. In the previous article, we were leading up to the FED’s September rate decision. The FED rate currently stands at 2.00%, although the recent manufacturing data coming out of the USA shows a lack of growth missing its expectations; the figures released for September are the lowest in the past decade. ...show more

 

Will Japan’s Implemented Consumption Tax hike cause an economic slowdown?

Currency Clips

In October, Japan witnessed a transformation of price lists as a result of the 10% consumption tax increase. After several delays, Prime Minister Shinzo Abe implemented the new tax bracket. The only way to raise funds to improve the country’s ballooning social welfare costs. ...show more

 

Utilising collaborative analytics to improve FX execution outcomes

Trading Operations

FX is a dealer market where common information is not readily (if at all) available. Liquidity providers (LPs) have private information about their flow and hedging strategies and Liquidity consumers (LCs or Clients) know their flow and tend to keep the whole size of the flow secret from each individual LPs.  At the same time most trading (off the main ECNs) happens on a “disclosed” basis where Liquidity Providers knows the Clients identity before trading. ...show more

 

Automation of currency trading points to changing nature of corporate treasury function

Treasury Automation

Following the conclusion of Sibos in London, the global capital for the foreign exchange (FX) market, Curtis Pfeiffer, Chief Business Officer at Pragma, explores how automation is helping corporate treasurers manage their exposures and ensure alignment with best execution practices....show more

 

Artificial Intelligence in Foreign Exchange: What’s the Big Deal?

Special Report

Artificial intelligence (AI) technology is not groundbreaking - computer scientists have studied it for decades. Over the past five years, however, the use of AI has exploded across a number of industries. Although it feels like the topic is oft discussed in the financial press, there is a fair amount of misunderstanding surrounding what AI really is and how to apply it to financial markets....show more

 

Time to embrace the data revolution

Expert Opinion

The winds of change have begun to blow in the world of FX Swaps, and as a result it’s becoming increasingly apparent that knowledge in the form of accurate market data truly is power. ...show more

 

SquaredDirect The DMA broker that works hard to make the trading journey unique and worthwhile

e-Forex Interview

SquaredDirect is a brokerage firm that is working hard to be different. It brings together a wealth of experience and commercial expertise to offer a range of innovative products and services. The company has built a highly experienced management team that is looking to take a new approach to providing top class international financial trading solutions. e-Forex spoke with CEO, Youssef Barakat, to learn more about his endeavours....show more

 

Exploring the benefits of outsourced algorithmic FX trading services

Trading & Technology Clinic

Like with other asset classes, FX trading has become more electronic, and this has resulted in more data across more venues that needs to be processed faster and with a high degree of accuracy. Simultaneously, there is more pressure on traders to cut costs, yet improve execution quality. Algorithmic trading is a great tool to meet these seemingly opposing objectives. ...show more

 

Technology provision Facilitating institutional access to the crypto asset market

Blockchain and CryptoCurrencies

The title of this piece is short and straight forward, but accomplishing it in today’s nascent crypto-asset ecosystem is clearly not as easy as accessing other more traditional asset classes. That’s precisely why this is an opportunity, both from a business perspective as well as from the perspective of market innovation....show more

 

Reference Data: The key that unlocks the crypto ecosystem

ALGOFX LAB

Arguably, reference data is one of the most misunderstood terms in business. Without fully understanding exactly what reference data is, its importance is difficult to realize or fully value, and could lead to the inefficient or faulty implementation of business processes....show more

 

Spotex launches Liquidity, Credit and Margin solutions for Prime of Primes and FX Brokers

Product Launch

Spotex recently launched Periscopeâ„¢ Multilevel Credit-Margin Manager as well as new dedicated broker liquidity hubs. Having just introduced two new products, we asked John Miesner, Senior Managing Director of the firm, to tell us more about them....show more

 

The role of next generation technology in helping FX trading firms to get more from their data

ALGOFX LAB

With every passing day a greater volume of data is captured globally. The value of this growing source of intelligence varies from industry to industry, but within financial markets the worth of good quality price data is far above rubies. ...show more

 

Tackling the technology challenge in Asia's FX Markets

Regional eFX Perspective

While the growth of FX in Asia has been anticipated for some time, the recent BIS Triennial Central Bank Survey has highlighted that Asia is the engine for the global economy and has been the only region with significant levels of growth in recent years with FX turnover in Hong Kong, Japan and Singapore larger than the US for the first time since the survey began....show more

 

Asia – a story of stellar growth prospects and adoption of digital technologies

Regional eFX Perspective

An interview with Han Tan, Market Analyst at FXTM - Han, can you please tell us a little about yourself and your role at FXTM? I joined FXTM as Market Analyst after working for a number of national business broadcasters, including Bloomberg TV Malaysia and BFM. As a financial presenter, I was able to gain sound knowledge of both the currency and the commodities markets....show more

 

Price isn't everything: separating good and bad liquidity in todays FX market

FX Brokerage Operations

Providing pricing in the world’s most liquid market is a more competitive business than ever before – and brokers must ensure their customers have access to only the best quality liquidity from the most trusted counterparties, says Siju Daniel, Chief Commercial Officer - FXCM Group. ...show more

 

Looking for Best Execution?

Trading Operations

Looking for Best Execution? Here is what might influence your FX trading strategy By Guy Hopkins, Founding Director and Jian Chen, Head of Data Science, FairXchange...show more

 

Market Impact and Decay Around the WMR Fix

Trading Operations

Market impact can mean many different things but in essence it is an estimate of the movement in the market price during and following a buy or sell trade. The act of buying pushes the price up and the act of selling causes the price to fall...show more

 

Singapore Where electronic FX is moving towards critical mass

Regional eFX Perspective

Asia Pacific’s principal FX trading centre is increasingly demonstrating what happens when market forces, technology, regulatory support, regional political events and positive sentiment all align. Richard Willsher investigates....show more

 

FX EMS Selection & OMS Integration The challenges for Asset Managers

Voice from the buyside

Richard Estes looks at the evolving FX trading needs of asset managers, particularly those of real-money asset managers and looks at the challenge of OMS-EMS integration for FX trading, and what it is necessary to understand about the role that both an OMS and FX EMS play in FX trading....show more

 

Pragma

e-Forex Interview

The award winning quantitative technology provider that strives to connect traders to markets in a more transparent and intelligent manner...show more

 

People and Machines What the future holds for FX

Viewpoint

The future of financial services will be a true merger of the best of both human and machine, according to a report produced by Refinitiv with Greenwich Associates. It finds that over the next three to five years investing and trading decisions will still need to leverage human intuition, while data analysis and trade execution will become increasingly automated and more efficient. Nicola Tavendale investigates....show more

 

Evolving risk management and platform trends in the online trading industry

FX Brokerage Operations

Recent global events have led to a surge in the popularity of online trading, with many brokers reporting increased trading volumes. However, it’s important to note that recent growth is riding an already well-established trend of interest in retail trading....show more

 

How to overcome the technical challenges when launching a new Forex Broker

FX Brokerage Operations

The Forex/CFD industry has now reached a stage of maturity, making it challenging for startups and smaller firms to establish their presence...show more

 

Gold outlook: will the current underperformance continue?

Currency Clips

Gold price reached a year-to-date high of $1,768 on May 18. Since then, its performance has straggled behind the overall market. In the past month alone, the price has declined by about 0.6% while the S&P500 and Nasdaq 100 have gained by more than 8%. ...show more