e-Forex Magazine January 2003

e-Forex Magazine January 2003

e-Forex Jan 2003 - FX Liquidity and e-Forex. An issue? STP - the glue that makes electronic trading stick. Broking FX Options Online : Hybrid Model Set to Dominate

 

FXPA. A new force for advancing the interests of the FX Industry

Leader

Adam Cooper Chairman, FXPA; Senior Managing Director and Chief Legal Officer of Citadel LLC...show more

 

Addressing the complexity of new post trade operations for FX clearing and reporting

Leader

Incoming regulations will add a wholly new layer of complexity to the FX back office. Frances Maguire talks to firms about the challenges ahead and what is being done now to prepare....show more

 

Regulatory Arm-Wrestling: Can the FX market strike a balance?

Leader

The market environment and events over the last two years have brought regulatory concerns around the world's financial services into the spotlight. There is more scrutiny over the general architecture of the market than before the credit crisis. The regulatory concerns around FX have yet to move beyond political rhetoric into hard business practicalities. At the moment FX feels hard done by. The industry sees itself as having ridden the credit crisis with a robust infrastructure and a self-regulated concern that combines STP efficiencies with broader concerns for systemic risk as part of the natural evolution of the business model....show more

 

The tide has turned: Shifting attitudes towards eFX

Leader

Peter D'Amario examines why FX users who have spurned e-trading in the past decide to give electronic trading a try — or are pressured to do so....show more

 

A Central Counterparty model for FX – does it make sense?

Leader

Frances Maguire looks at the arguments for introducing a CCP for spot FX and the benefits it could bring....show more

 

STP: the glue that makes electronic trading stick

Leader

As STP is implemented, foreign exchange will be traded more efficiently than ever before. The entire trading process will be streamlined. Indeed, this revolution is already happening. Jack Lemonik outlines how clients define what they require from ST...show more

 

Evolution of FX Trading: Models converge and competition heats up

e-FX Industry Report

The market for Foreign Exchange (FX) is the largest and most liquid financial market. The FX market plays an important role in facilitating global trade and enabling cross-border payments, along with being an asset class that is widely used for hedging and carrying out speculative trades....show more

 

Electronic FX: As Global Markets normalize, slow but steady growth

e-FX Industry Report

Global foreign exchange markets continued their migration to electronic execution last year as e-forex trading volumes increased amid a decline in overall FX trading activity. ...show more

 

Recent Event – The 44th ACI World Congress

e-FX Industry Report

Godfried De Vidts reviews some of the highlights from the recent ACI Congress in Stockholm...show more

News : Voltrex launches online FX platform

News

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Orc Software increases trading links

News

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MIG Investments creates new in-house Research Department

News

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WSS and Logicscope partner for more efficient STP

News

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OCL pleased with Netting pilot scheme results

News

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BBH launches InfoFX tm

News

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Hedge Funds access IDB market

News

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Management changes at GAIN Capital Group

News

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News : FXCM offers One-Click FX execution

News

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Eurobase wins FX Gateway project with AIB

News

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News : Standard Chartered joins Bloomberg FX platform

News

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Interbank FX launches CPR tools

News

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News : Handelsbanken improves FX order functionality

News

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Dukascopy launches new custodian service

News

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Deutsche Bank enhances autobahn web portal

News

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CME offers e-trading of weekly FX Options

News

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ACM launches new website

News

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Cognotec’s RealStream cracks ESR conundrum

News

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WestLB to deliver Streaming Executable Rates to Bloomberg with Cognotec

News

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BMO launches FX trading System

News

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BTM becomes first EBS®™ Prime bank in Asia

News

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Hotspot FXi tops Euromoney survey in key categories

News

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FENICS dealFX links Sell-side to Buy-side

News

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TNS delivers VoIP services over private IP network

News

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China FX Trade System goes live

News

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EBS enhances offering for professional FX traders

News

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Reuters broadens FX community

News

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ACM launches new Java dealing platform

News

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RBS launches TRADE

News

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Mellon introduces IDeal Forex enhancements

News

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Reuters launches managed service for direct feeds

News

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Nordea launches STP to Opus Capita TMS

News

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FX Inside begins major roll-out

News

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FNX develops SierraLink FX adaptor

News

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Oldest Czech bank takes ICYFX

News

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Taiwanese Investment Bank trading with Saxo

News

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Cognotec launches FX Orders CONNECTâ„¢

News

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BBH launches new FX research website

News

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Caplin releases Version 4.0 of Caplin Platform

News

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CME FX on Reuters launches in Asia

News

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Wall Street Systems launches FX limit orders module

News

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RBS launches streaming FX trading on Bloomberg

News

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Wall Street Systems and Cognotec launch integrated FX solution

News

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SG launches FX Prime Brokerage service

News

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FXall makes key appointments

News

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eSpeed FX improves trading experience

News

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IFX enhances IFX Direct platform

News

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Barclays Capital launches Precision Pricing

News

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RBS adds more Emerging Market capability to RBS FiX

News

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BNP Paribas launches Technical Tools

News

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Citigroup FX enhances online options services

News

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Currenex releases ESP 7.0

News

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Morgan Stanley introduces Passport FX

News

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360T offers Auto-Pricing engine

News

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IFX Markets improving IFX Direct

News

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Deutsche Bank - Focus on electronic FX Prime Brokerage

News

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Reuters provides wider access to ICAP'S data

News

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Additional Channels from Standard Chartered

News

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Moneyline Telerate launches Active8

News

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CS Lucas integrates to trading portals

News

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SunGard’s ETXTM and State Street’s FX ConnectÆ announce partnership

News

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BBH enhances FX WorldViewâ„¢

News

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FXall announces new STP initiatives

News

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FairEx continues its stride in Asia

News

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Scotia Capital announces new eFX functionality

News

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Wall Street Systems enhances its FX OTC module

News

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HBOS Treasury Services enhances e-FX Capability

News

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ABN AMRO’s DealStation volumes increase

News

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Saxo set to double White Labelling Partnerships

News

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HSBC delivers enhanced e-trading functionality

News

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Centradia increases clients

News

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Reuters to acquire AVT

News

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Morgan Stanley adds Foreign Exchange to Passport

News

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Lehman Brothers launches SmartLink

News

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New Look fxcentre.com

News

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Money Markets added to Barclays Capital FX Trader

News

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FX Clearer: BNP Paribas' gateway to CLS

News

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The only constant is change, (and ethical standards)

Foreword

The fines have been levied, compliance officers hired, and outside counsel engaged. Has anyone counted the total cost? The FCA has blown their referee’s whistle, and the whistle has blown to start the new round of market activity, with a tighter oversight of standards. The banks who have been paying attention to culture, have trained their staff and maintained controls, have fared relatively better. They have certainly picked up business. But is that it, now? Job done?...show more

 

Managing risks associated with the settlement of foreign exchange transactions

Foreword

Last time I drew your attention to ACI’s update of The Model Code – formulating a new benchmark of FX Best Practices. At its Executive Board meeting on September 4th in Paris, the Committee for Professionalism published the final version of the International Code of Conduct and Practice for the Financial Markets. This version will now become merchandised and distributed to relevant authorities to recall the association’s initiatives in the OTC markets for decades. ...show more

 

FX - Remaining resilient in the midst of crisis

Foreword

The crisis came and the crisis went and FX kept on functioning well. Even at the peak of a once in a century crisis, it carried on performing. More astonishing, it shows increased resilience and keeps on attracting new market players. ...show more

 

Foreword : Regulatory challenges to the Financial Markets - MiFID and consequences of Foreign Exchange

Foreword

Manfred Wiebogen discusses the likely impact of the MiFID directive which come into operation in November 2007. ...show more

 

FX Liquidity and e-Forex. An issue?

Foreword

Customers sometimes complain that FX markets lack real Liquidity. Whatever the reasons for this, Heering Ligthart believes that eTrading should increase Liquidity in the market by making it more accessible....show more

 

ADS Securities London Ltd is launched

News Interview

e-Forex talks with James Watson, the Managing Director of ADS Securities London Ltd....show more

 

The Central Bank of Russia faces difficult task

Currency Clips

Jameel Ahmad Chief Market Analyst at FXTM...show more

 

The Middle East – the FX equivalent of Black Friday?

Currency Clips

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

 

2015 - Stepping away from the EURCHF Floo

Currency Clips

Peter Rosenstreich Head of Market Strategy at Swissquote...show more

 

Latam currencies – a look ahead

Currency Clips

Simon Smith Chief Economist at FxPro...show more

 

Indonesia - taking bold steps

Currency Clips

Yu Chung Leong Forex dealer at Phillip Futures...show more

 

NBAD Global Markets offering world-class trading services in domestic, regional and international markets.

Provider Profile

The National Bank of Abu Dhabi (NBAD) is one of the UAE’s largest banks with operations in 18 countries. It has been ranked among the world’s 50 safest banks and the safest bank in the Emerging Markets. The Bank has an extensive branch network in the UAE. David Wilkins, Executive Director of E-Commerce at NBAD’s Global Markets, who is based in Abu Dhabi, tells us more about the development of the bank's new e-commerce platform which will place it among the very few specialist regional banks to have developed its own solution and thus be in a position to service Dirham currency demand on a global basis. ...show more

 

CME Group - 40 Years of Innovation and Global Growth

Provider Profile

This year CME Group celebrates 40 years of trading financial futures beginning with foreign currency contracts in 1972. It has the largest regulated marketplace in the world for FX with US$121 billion dollars traded in average daily volume with US$250 billion of open interest residing at the CME Group Clearing House with growth rates over the last five to six years for listed FX that has significantly outperformed the broader OTC FX market. Derek Sammann, global head of FX & interest rate products at the CME Group speaks to e-Forex about the firm’s plans to deliver expanded FX trading and clearing services....show more

The CLS Aggregation Service: taking huge steps towards eliminating operational risk

Marketplace

The CLS Aggregation Service, jointly built by CLS Group and Traiana, an ICAP company, went live in January, providing trade aggregation services to participants active in the over-the-counter FX market. Frances Maguire explores how the service is heralding a new chapter in operational risk reduction and banking industry collaboration....show more

 

Convergence of customer segments: What role for e-FX

Marketplace

Sang Lee outlines why the FX market has witnessed a certain level of convergence across different customer segments. ...show more

 

2005: The Year of e-FX Pricing

Marketplace

Donal Austin assesses the reasons that Price Engine providers have been better able to design, develop and deliver user friendly and market-aware FX electronic pricing solutions....show more

 

Liquidity – the achilles heel of eFX

Marketplace

While liquidity has decreased over the past few years, the uptake of eFX is not the main culprit says Mark Galant, who traces the impact of electronic trading in shifting liquidity amongst different FX players....show more

 

Liquidity Aggregation - opening the way to business success in FX

Features

Liquidity aggregation has been an increasingly prominent feature of the FX market in recent years, to the extent that a general consensus has emerged among traders that aggregation services can not only alleviate the visual burden of trying to watch five screens simultaneously but also have a positive impact on the quality of trade execution – something that has been extolled by the providers of these services for some time now, as Nicholas Pratt discovers. ...show more

Single Dealer Platforms – marking the end of uncoordinated e-trading delivery channels

Features

It is somewhat against expectation that the value proposition of single dealer platforms (SDPs) in the FX market continues to strengthen and as Nicholas Pratt reports, they are now considered the prime relationship channel for increasing numbers of FX providers. ...show more

 

FX Prime Brokerage – a 15 year business set to benefit the wider financial marketplace

Features

The new regulatory environment looks set to shape the future of FX prime brokerage as well as open up the services to a wider audience. Frances Maguire talks to providers about how the FXPB model is evolving and how they are preparing for new growth....show more

 

Gaining competitive advantage with ultra-low latency FX connectivity

Features

High frequency trading is often referred to as an arms race. While this image evokes all the machismo traits of the capital markets, it also suggests there is a huge amount of overspending on unnecessary tools - after all, what's the point in being able to blow the world up five times over? The pursuit of ultra-low latency is one area of high frequency trading where such spending has been questioned. Of course it's important to have an efficient and timely trading process but how many milliseconds do you really need to shave off that execution time? Exactly how close to the point of execution do you need to co-locate your servers? And what happens when everyone ends up with the same 0.0000001 milliseconds latency in the end?...show more

 

A tough nut to crack: How can we further streamline Post Trade FX?

Features

While post-trade solutions might not be considered to be at the sexy end of the FX trading spectrum and the inter-bank foreign exchange STP piece might be largely “job done” with recent initiatives such as from CLS and others, possibilities to further streamline the post-trade FX space lie largely amongst corporates and Tier3-4 entities. Roger Aitken examines some of the issues....show more

 

Relationship e-trading: A new force entering the world of corporate FX?

Features

Banks and corporates have long relied upon strong relationships in FX where pricing and services are built around the size and type of the order flow. However, while the growing use of electronic over voice trading for vanilla transactions has freed up banking staff to focus on the higher value, more complex deals and the automation brought by straight through processing have lowered costs and brought greater efficiency, it means there is less daily contact. ...show more

 

E-channel traffic jams: Overcoming FX technology bottlenecks

Features

Frances Maguire asks if the benefits of e-FX are still being held up by constraints in trading infrastructure and technology bottlenecks?...show more

 

Features : Entry to the FX retail market: addressing the technological challenges

Features

Paul Ronan focuses on the technological impact associated with entering the retail FX market, and what banks should be doing to overcome the challenges involved....show more

 

Asset Managers: e-FX helping to solve the jigsaw of complex operational challenges

Features

As asset managers execute increasing volumes online they are starting to re-engineer their businesses models around growing their business through eFX. Frances Maguire reports....show more

 

FX Trading and the Risk to Prime Brokers

Features

Adam Sussman looks at why Prime Brokers will need to upgrade their technology to keep pace with the rate of change as the FX market continues to evolve....show more

 

CLS for Investment Managers

Features

Jonathan Butterfield describes how CLS has introduced a unique solution that makes CLS settlement benefits available to the fund management community....show more

 

Third-party Services – helping to leverage the benefits of CLS

Features

Heather McLean canvasses a selection of industry views on the benefits of Third party CLS services....show more

Third-party CLS Services - an effective way to reduce FX settlement risk

Features

Doug Gardner and Mark Cipollina discuss several third party CLS connectivity options which are now available....show more

 

CLS Bank International – working to educate the market about CLS

Features

Heather McLean talks to Jonathan Butterfield about how CLS Bank is working hard to educate the market about what CLS is and what you can get from it....show more

 

Foreign affairs – why relationships are still at the heart of FX trading

Features

Mark Warms looks at why relationships remain important in FX trading and how clients can use technology to manage their relationships more effectively....show more

 

The Complete Web-Based Treasury Management System: Corporate Treasury’s Silver Lining

Features

Keith Harris illustrates how treasury organisations have the opportunity to utilise web-based treasury management systems that apply connectivity to streamlining and improving treasury processes....show more

Integration of FX STP and automation into other processes

Features

Steve Godfrey and Gretchen Breiling explain how FX STP can add value as a fully automated component in other transactions....show more

 

Benchmark Execution – moving onto the next stage

Features

Martin Spurr looks at how the functionality of current Benchmark Execution offerings is being improved....show more

 

Institutional e-Forex: Beyond STP

Features

Peter Burton discusses a portfolio approach to Best Execution in Foreign Exchange trading....show more

 

TWIST – Major progress in achieving STP

Features

On 11th of December 2002, a major conference was held at the offices of Shell in London on the TWIST initiative. Tom Buschman tells us about the meeting....show more

 

Standards and their role in eFX

Features

The existence of a standard description of data and workflow is simply not enough to make it successful argues Mathew Kuppe. The broad adoption of a standard is a measure of its success. He examines a variety of common standard protocols...show more

 

STP and the integration puzzle

Features

Is STP about speed? And if so, how can this be reconciled with the more conservative need for precision that is crucial in many areas? Gert Raeves provides some answers....show more

 

Electronic delivery of price is not enough!

Features

Richard Olsen believes that in the next few years, instantaneous settlement and continuous interest rate payments in addition to other advanced tools will have a major impact on the development of currency trading....show more

 

Pricing : unravelling a complex methodology

Features

Creating a pricing methodology for automated FX trading is a complex undertaking. The idea may seem simple but there are many questions to be answered. Yaacov Heidingsfeld discusses the issues involved....show more

 

Improving Post Trade Services

Features

The need for banks to differentiate themselves and their services to their customer base is paramount and the winners in this race will be those who supply better transactional processing efficiency, argues James Trott....show more

 

Bridging the information/intelligence gap

Features

Even though some of the same technology that has made online transactions possible also helps to bridge the Information gap, real-time Intelligence is still hard to come by, says Shane Smith....show more

 

Levels of buy-side integration with eFX

Features

It is clear that the buy-side is trading more and more eFX. Now (encouraged by vocal evangelists of buy-side STP), corporate treasurers are starting to appreciate the benefits of efficiency, accuracy and risk-reduction which follow from deeper and wider technological linkage with their financial service providers. ...show more

 

Choosing your platform

Features

The Corporate Treasurer faces a number of factors to consider when choosing which electronic FX trading solution is best for them. Jean-Luc Janet highlights some of the key ones....show more

 

VertexFX. One of the most reliable, secure, independent and scalable trading platforms

Platform Profile

e-Forex talks with Akram Majed, CEO of Hybrid Solutions about VertexFX Trader...show more

 

The new Autobahn - breaking new ground in FX platform development

Platform Profile

In July this year Deutsche Bank unveiled its next generation FX trading platform on Autobahn. Frances Maguire talks to Ian O’Flaherty, Global Head of FX eSales at Deutsche Bank, about what this means for the bank....show more

 

Getting the measure of Bitcoin

CryptoCurrencies

Bitcoin is a story that wants to be written. There’s always something happening, and almost all the main characters are available for interview. Bitcoin is never boring, nor predictable. Just this morning (in late November 2014), for example, the rumour reached this laptop that Satoshi Nakamoto, the possibly pseudonymous inventor of Bitcoin, might have been working for the US National Security Agency all along. Within the past month, a former SEC chairman, Arthur Levitt, has signed up as an adviser to two Bitcoin companies; a founding director of the Bitcoin Foundation, John Matonis, has resigned; and the FBI has shut down the Silk Road 2.0 online black market. The price of a single bitcoin hit its low for the calendar year, USD326, on 4th November (source: blockchain.info) and bumped up to USD430 ten days later....show more

 

Regional e-FX perspective on Asia

Regional eFX Perspective

Electronic trading across Asia continues to become more widespread and is increasing rapidly by volume. But, as Richard Willsher discovers, the countries and customers of the Asian theatre are so varied that it would be a mistake to see it as a single market where one size fits all. ...show more

 

Regional e-FX perspective on the Middle East

Regional eFX Perspective

Electronic foreign exchange trading made a slow start in the Middle East. Take up is now well advanced in some sectors and some countries, though a lack of infrastructure, varying degrees of regulation and local civil and political disturbances paint a mixed picture across the region as a whole....show more

 

Switzerland

Regional eFX Perspective

Heather McLean interviews major technology vendors and FX buy-side and sell-side players in the country....show more

 

Cause and FX: Taking a closer look at the issue of latency

Under the Microscope

By Donald Finucane, Vice President of Product Management and OTC Data Services, Interactive Data Real-Time Services...show more

 

Forex ECNs - leveraging a powerful new generation of transparent marketplaces

FOCUS

With acquisitions and new launches, the FX ECN market is abuzz with activity. Nicholas Pratt examines the developments and what factors will decide the fates of the various players, new and old....show more

 

Top shops - big winners! What's driving improved service and product innovation in FX prime brokerage?

FOCUS

The events of the past 18 months have put credit firmly in the spotlight, giving rise to a new round of product innovation within the FX Prime Brokerage space. Frances Maguire explores how it has also raised the ante on improving customer service levels amongst the leading providers....show more

 

Event Processing: A new technology for leveraging streaming FX data

FOCUS

Chris Donnan explains why many vendors have begun to focus on what event processing has to offer for FX trading participants. ...show more

 

New technologies: Shaping the future of e-FX

FOCUS

Nicholas Pratt looks at why the pace of technology innovation in the FX market may change as a result of the emergence of online multi-bank portals, a booming retail market, more high frequency trading and a general desire for low latency transactions. ...show more

 

FX Derivatives: Technology helping to retain a competitive edge

FOCUS

Jennifer White outlines why, with the broad range of derivative products on offer, it is important to use all available technological tools to support this complex business. ...show more

 

APIs: helping to integrate an Options platform within the FX trading environment

FOCUS

Michel Everaert explains how APIs free banks to concentrate on providing a tailored service to their clients....show more

 

Online FX Option platforms

FOCUS

Andy Webb interviews a selection of leading banks about the functionality of their own online FX Option trading platforms....show more

 

Online FX Options

FOCUS

Transparency versus Liquidity - is there a winner? David Gershon discusses how greater transparency now means everyone can determine an option’s fair price in advance of trading....show more

 

The impact of CLS on your electronic Forex trading behaviour

FOCUS

Peter Schipper and Justin Vosveld refresh our minds on how the concept of CLS works and now that it is expanding to new customer groups, what benefits a corporate treasurer could expect from joining CLS....show more

 

Real-time FX trading: Fact or fantasy?

The e-Forex Surgery

Steve Bird and Damien McAdam look at how real-time FX trading is currently defined and examine how close we actually are to achieving it....show more

Citigroup answers questions on FX Benchmarking.

The e-Forex Surgery

...show more

 

Mobile e-FX delivery channels – are they ready to go mainstream?

Special Report

Use of mobile devices is standard practice nowadays amongst traders in the retail FX sector, and it has been for several years. The ability to literally not only keep a finger on the pulse of the market from wherever you are, but to execute trades from anywhere, is increasingly taken for granted. Now, use of this “on-the-go” functionality is beginning to spread to the institutional markets as well and, as Heather McLean discovers, although take up of mobile communication applications has so far been far more cautious than that of the retail market, there are signs that this hesitancy is changing....show more

 

Traders Diary: Two winners, two losers

Retail FX trading

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

 

Noisy and Inflammatory - helping FX trading firms to navigate the unstructured data flows from social media

Social Media

Like it or loathe it, social media is here to stay. And contrary to popular belief, social networks are not just about obsessive “Beliebers” or narcissistic “Selfies”. We now see influential politicians through to journalists (often posting scoops) and well followed investors and traders sharing the stage. This trend has even extended to regulators such as the U.S. Securities and Exchange Commission, which now allows corporates to disseminate material non-public information through social networks due to “appreciating the value and prevalence of social media channels in contemporary market communications”....show more

 

Evaluating ecosystem strategies for improving FX trading performance

Forex Technology

As increased adoption of algorithmic and high-speed trading strategies continue to turbo-charge the FX landscape, Dan Barnes explores how FX trading has become very time and latency sensitive, multiplying the challenge of tracking market activity and the cost of doing business. ...show more

 

A company focused on streamlining workflows and increasing operational efficiencies

Fast Track

With Alfred Eskandar, CEO of Portware, a leading developer of broker-neutral, automated trading solutions for global equities, futures, options and FX....show more

 

The birth of the $3.98T FX Social Network

Spotlight

Jon Vollemaere takes time out from tweeting and throwing sheep to talk about LetstalkFX.com, a new portal for the FX Market....show more

 

Liquidity, price and timing - engineering more client centric FX algorithms

Algorithmic FX Trading

Foreign exchange may be almost as old as commerce itself, dating back to the days when commodities were sold off the backs of camels, but widely accessible FX-dedicated execution algorithms are a surprisingly recent innovation. As William Essex discovers they go back just five years....show more

 

Automated Forex Trading Systems: Performing transactions in the Forex Market

Algorithmic FX Trading

The Internet has provided the means for an increasing multitude of people to trade the forex market. In addition to facilitating their ability to trade foreign exchange, the Internet has also made possible a growing variety of automated forex trading system and forex signal generation software programs. ...show more

 

Build versus buy: choices for deploying advanced Algorithmic FX trading infrastructures

Algorithmic FX Trading

To buy or not to buy. That is the question. Whether 'tis nobler in the mind to suffer the slings and arrows of outrageous vendor hype or to take arms against a sea of troubles by building an FX algorithmic trading system with your own in-house resources. Ay, there's the rub. Nicholas Pratt investigates....show more

 

Harnessing more intelligent FX Algorithms for superior order management and strategy execution

Algorithmic FX Trading

There is always room for improvement. This maxim is evident in some areas more than others, particularly in the capital markets industry where the financial crisis exposed the need for some collective pulling up of socks in areas such as risk management, regulation and governance. On the trading side, the pursuit of continual improvement has been much more apparent. Resources may be restricted somewhat due to the current market conditions but, at least in the FX market, firms are looking to harness more intelligent algorithms to enable superior order management and execution and to take their FX algorithmic trading capability to the next level. ...show more

 

FOCUS : Machine Readable News (MRN) - an escalation in the algorithmic FX trading arms race?

Algorithmic FX Trading

Nicholas Pratt investigates what technical and technology issues are involved in developing and deploying MRN for Algorithmic FX trading. ...show more

 

LMAX Exchange - Inviting brokers to leverage the power of technology

Case Study

David Mercer ...show more

 

CFETS:the birth of a new era in electronic trading in China.

Case Study

the birth of a new era in electronic trading in China....show more

 

e-Forex talks with Leon Duivenvoorden, Treasury Operations manager at Petroplus

Case Study

e-Forex talks with Leon Duivenvoorden, Manager Finance and Treasury Operations at Petroplus....show more

 

High velocity, volume and complexity - addressing the challenges of Big Data in FX

Technology

There are enormous advantages available for FX trading firms that are able to capture and analyse the universe of available data, but, as Dan Barnes reports, getting to grips with the massive wealth of information that’s out there is a considerable technical challenge....show more

 

FX Prime Brokerage: meeting the challenges of the fast changing FX market

Debate

The recent growth of FX Prime Brokerage has been extraordinary and technology has had a central role in facilitating this. e-Forex invites John Colasanti, Head of Americas, FX Prime Brokerage sales at Citi, Ed Pla, Global Head of FX Prime Services at UBS, Marek Robertson, Head of FX Liquidity Solutions at Barclays Capital and Brian Duff, Head of Prime Brokerage, North America at RBS Greenwich Capital to discuss some of the key drivers and issues associated with this expanding industry....show more

 

Easing the brokers burden with powerful new technology and liquidity solutions

FX Brokerage Operations

With technology advancing at a rapid pace, it has never been easier for retail forex brokers to run their businesses more efficiently. Using cutting edge solutions to get more out of their liquidity providers and their trading platforms, brokers are not just able to survive in tough market conditions and comply with ever more stringent regulations, but they can capture new business opportunities and prosper as well. Heather McLean investigates....show more

 

Minimising costs, Maximising opportunities – taking the best route towards an FX White Labelling solution

FX Brokerage Operations

Caroline Henshaw discovers more about, how, in the competitive world of forex today, more and more hard-pressed brokers are choosing to concentrate their resources on areas where they can add value and outsourcing the rest to sophisticated white label service providers that can not only help start-ups enter the market but enhance existing businesses....show more

 

Non-displayed Pools of Liquidity: Shining a light into the darkness

FX Mythbusters

Ary Khatchikian and Harrell Smith Ary Khatchikian, president and chief technology officer, Portware and Harrell Smith, co-head of trading product strategy, Portware...show more

 

Winning the war against latency

The e-FX Mechanic

Many describe latency as an unseen enemy that relentlessly nibbles away at profits. Like the cold and flu viruses that wreak havoc in the winter months, we know latency is there and we hope that it doesn’t make us sick. ...show more

 

Reaching maturity: How much scope for future e-FX growth?

e-Forex Roundtable

With Bjorn Lundvall, head of e-commerce at Handelsbanken Capital Markets, Ruth Mackaman, head of e-FX Marketing and Product Development at Brown Brothers Harriman, Tom Roche, Global head of FX e-commerce at Standard Chartered Bank, Matt Thomas, Head of Prime Solutions, North America at RBS Global Banking & Markets, Stephane Malrait, Head of e-commerce Europe and Asia, Societe Generale Corporate & Investment Banking and Marco Pelizzoli, Head of FX Sales (Europe) Bank of America....show more

 

Technology: driving innovation and growth in eFX.With Cognotec, SmartTrade Technologies, LavaFX, FlexTrade, FairEx and Reuters.

e-Forex Roundtable

6 leading FX technology vendors tackle questions on this key topic....show more

 

STP – reducing time & automation to a click

e-Forex Roundtable

STP is gathering force as a must-have solution. With help from Trema, e-Forex, gathers five representatives from leading fx players to answer questions on STP and their offerings....show more

 

Leveraging FIX 5.0 for Foreign Exchange

Standards

Jack Lemonik and Chip Lowry provide an overview of FIX 5.0 Foreign Exchange enhancements....show more

 

The future of retail forex is China

Viewpoint

Much has been made of the rapid growth China has undergone recently, with the country now considered an economic powerhouse, second only to the United States. Alongside this unprecedented growth has been a parallel rise in the retail forex industry, with more investors in China than ever before interested in managing their own wealth through online forex trading. Though there have been some indications of the Chinese economy slowing down in recent months, the country remains one of the highest performing economies in the world, and the investment power of the Chinese population should not be underestimated....show more

 

Prime of Primes – Aligning interests

Viewpoint

As FX volumes continue their stratospheric rise, an increasing number of brokers and other financial firms are exploring different methods for dealing with liquidity sourcing and distribution. Prime of Prime Brokerages or “PoPs” is an increasingly popular option for retail brokers looking to effectively manage the problems brought about by spiralling volumes, with a long term view to reaping their maximum benefits. But what, exactly, can be accomplished through the use of PoP, and how does the broker decide on which PoP service is most suited to their business requirements? TopFX makes the case for PoPs. ...show more

 

Increasing volumes in the back-office - the importance of Exception Management

Viewpoint

As the FX market continues to grow in volume and in participants, it is becoming increasingly competitive on the trading side and much harder to derive the same level of profit as in the past. As a result, the financial world is facing pressure to decrease the cost of processing transactions. There has never been a more appropriate time to highlight the importance in ever higher volume back-offices of the need to streamline operations and maintain an efficient Exceptions Management process....show more

 

Revealing a more profitable FX business

Viewpoint

Over the last five years, many FX banks have discovered that they can make more money with less risk by outsourcing market-making. Justyn Trenner explains why we are now ready for a new stage in this evolving process....show more

 

e-Trading: driving the need for integrated innovation

Viewpoint

Kenny McBride talks about e-Trading driving the need for integrated innovation. ...show more

 

Broking FX Options Online : Hybrid Model Set to Dominate

Viewpoint

The debate in FX Options with respect to electronic trading platforms has focused on whether ownership of a trading platform is desirable from a broker’s perspective, and if so, whether an electronic only or a hybrid broking model is superior. Mike Binns at GFI gives us his opinion....show more

 

How To Select An FX Prime Broker and Liquidity Provider

Retail e-FX Provider

Sucden Financial’s e-FX Division has a global client base, grown primarily through client recommendations. With a thorough understanding of how to give retail brokers a competitive edge, Sucden Financial’s Head of e-FX Business Development, Jonathan Brewer is ideally placed to offer advice on key areas to consider when selecting an FX prime broker....show more

 

Assisting FX brokers to deploy the DMA/ECN/STP risk model

Retail e-FX Provider

Life for FX brokers is being revolutionised. Direct Market Access (DMA), Electronic Communications Networks (ECN), and Straight Through Processing (STP) are now having a major impact on brokerage operations and becoming the number one choice for increasing numbers of firms operating in the Retail FX market. As Heather McLean discovers, brokers need no longer be exposed to the same high levels of risk that being a market maker involved and profits are able to be increased as blood pressure decreases in this exciting electronic world....show more

 

Binary Forex Options - the brokers perspective

Retail e-FX Provider

TMS Brokers is one of the leading brokers in Poland. We asked their CEO, Mariusz Potaczala for his thoughts on the use of and demand for Binary Forex Options....show more

 

Binary Forex Options - helping brokers add a new dimension to retail FX services

Retail e-FX Provider

Heather McLean explores why Binary Forex Options are gaining in usage amongst retail traders and investors and how the inclusion of these instruments can help FX brokers to differentiate their e-trading products and services ...show more

 

Key issues with registration and licensing of Retail Forex brokerages

Retail e-FX Provider

Global regulation of the financial services industry is a hot topic. Following recent developments and disasters in the economies of Europe and the US, the eyes of everyone, from those directly involved in the markets, to Joe Bloggs on the street, are focused on who oversees what, why and how. Heather McLean discovers why the foreign exchange brokerage market is subject to increasing scrutiny and new rules....show more

 

Overcoming The hurdles of setting up a Margin FX business

Retail e-FX Provider

With continued volume growth in retail foreign exchange (FX) trading showing little sign of abating, banks and brokerages increasingly have to deploy and ramp up cutting-edge margin trading solutions to efficiently manage their retail FX customer positions, retain and win new business and stay on top. Roger Aitken canvasses leading margin FX vendors to gauge the current state of play....show more

 

Regulatory Roundup

Retail e-FX Provider

January 13, 2010, is a date that many of us in the world of Forex regulation will not soon forget. On that day, the United States Commodity Futures Trading Commission (“CFTC”), after almost two years of deliberation, proposed a set of regulations that created a tsunami of outcry in the retail foreign exchange market. These long-awaited rules were a product of the 2008 Farm Bill that intended to require registration of US introducing brokers, commodity trading advisors and commodity pool operators. Instead, these 192 pages of densely-worded legislation created an international uproar due to the CFTC’s efforts to curtail leverage limits to historic lows....show more

 

Trading networks, hosting and infrastructure – investment in low latency FX propositions gathers pace across Asia

Networks, Hosting and Connectivity

The growth of Asian FX markets is seeing more interest from international FX providers in third party services to connect to these markets. Nicholas Pratt looks at the issues involved....show more

UniTrader – built with the Introducing Broker in mind

Product Review

e-Forex talks with Paul Belogour, CEO of Boston UniSoft Technologies, the home of UniTrader (UT)....show more

FXIC Shanghai

Recent Events

In December, FX consultant Shift Forex held the first of its popular FXIC events in Asia. FXIC Shanghai brought approximately 300 local brokers and bankers together with representatives from leading offshore solutions providers and brokers for two days of panel discussions and networking opportunities at the Waldorf Astoria Hotel on the Bund....show more

CHINA – By R5. The Great Shanghai Taxi Ride

Recent Events

I had the great honour of sharing a ride from the airport to the conference hotel with Galen Stops, Editor of PnL – but about an hour into the journey it was apparent that Driver 530 was lost, and after sharing our best taxi ride stories from around the world – we were now a bit bored and quite keen to actually arrive at said hotel....show more

INDIA – By R5. Building the Power Station

Recent Events

“Evaluating the first 100 days of the new Indian government” City of London & Chatham House panel discussion London 16 September 2014 - Tallow Chandlers’ Hall...show more

SINGAPORE – By R5. London’s Affect on Asia

Recent Events

Some might say that FXWeek had put in a bit more effort to this year’s Asia conference compared to last - and it paid off....show more

 

FORUM: What can Retail FX clients expect from e-trading platforms?

Forum

5 major online FX trading providers discuss the issues....show more

 

DMA, NDD and STP – choosing your agency model of FX trade execution

Retail e-FX Client

To trade FX more fairly without the threat of a broker making money from trading losses as well as gains, increasing numbers of retail traders are turning to the wonderful world of Non Dealing Desk (NDD) execution, Direct Market Access (DMA), straight through processing (STP) and electronic communications networks (ECNs). Heather McLean explores these terms in more detail and how they can facilitate more efficient trading and remove major conflicts of interest. ...show more

 

The iPhone App: a powerful new tool for Retail Forex

Retail e-FX Client

With the advent of Apple's iPhone, the entire mobile industry changed. From having mobile handsets to make calls on and send text messages, users were able to use their mobile device to access the internet, download applications for both work and play, and discover new ways of doing business and staying in touch with each other. Communication has entered a new era thanks to Apple's development, as every other major handset manufacturer quickly followed suit and began developing new ranges of Smartphones and launching application stores, while network carriers bundled data packages onto voice and text tariffs as end users became more familiar with the mobile web....show more

 

Should you consider using a Forex ECN platform?

Retail e-FX Client

Forex ECN platforms sound in theory like the ultimate utopian environment for trading. They can provide a place where orders are matched in real time in a collective bubble of liquidity provided by each of the market’s participants. However, as Heather McLean discovers, there is more to the world of the ECN than meets the eye. ...show more

 

IS Prime - focused on delivering a premium suite of products

Product Launch

ISAM, the alternative asset manager, has recently announced the launch of IS Prime, its new foreign exchange brokerage service. e-Forex caught up with Jonathan Brewer, Managing Partner of IS Prime and asked him to tell us more about the venture....show more

 

DealHub RefleX

Product Launch

e-Forex talks with Chris Leaver, COO of DealHub about the launch of the company’s new modular eFX platform DealHub RefleX....show more

 

Product Launch

Product Launch

Olivier Virzi, Chief Operating Officer of Olfa Trade, talks to e-Forex about some of the key features of his company’s new ECN platform, SeamlessFX and global order management system....show more

 

Product Review of QuoteTrader

Retail Forex Client

Larry Levy looks at how the arrival of QuoteTrader, an order entry, quotes and charting package marks the arrival of an essentially new type of “uber software” for the financial markets....show more

 

Site Inspection with Collective2.com

Retail Forex Client

Larry Levy interviews Matthew Klein Founder and CEO of the trading systems portal Collective2.com...show more

 

Optimizing access to FX liquidity pools

Expert Opinion

Peter Durkan CTO of Lucera Financial Infrastructures...show more

 

Factors shaping increasing confidence in offshore renminbi markets

Expert Opinion

Chinese renminbi is increasingly being traded outside mainland China as authorities gradually loosen controls over the currency. Gary Lin, head of foreign exchange Hong Kong at Brown Brothers Harriman, talks to e-Forex about the growth of the CNH market....show more

TradingForex.com building a business based upon ethical principles

Broker Profile

e-Forex talks with Stavros Hadjikyriacou, CEO of TradingForex.com, an STP broker that aims to offer the best possible trading conditions for all forex traders....show more

Broker Study

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Traders Workshop - Intelligent Backtesting: Gaining a competitive advantage in FX strategy development

Traders Workshop

Steve Oppenheimer and Thomas Parry outline how interest in automated trading models and algorithmic execution strategies for the foreign exchange market has grown significantly....show more

 

FXecosystem - changing how the FX market connects

e-Forex Interview

e-Forex talks with James Banister, CEO of FXecosystem, a leading provider of outsourced connectivity services for the FX market....show more

 

e-Forex Interview

e-Forex Interview

Philippe Savoy, Head of eFX Sales at RBC Capital Markets talks to e-Forex about RBC’s newly enhanced FX trading platform and the continued evolution of e-FX....show more

 

A man with a mission

e-Forex Interview

With Philip Brittan, global FX business manager at Bloomberg L.P....show more

 

With Jesper Ronald Petersen, head of Global Flow & Solutions at Danske Bank.

e-Forex Interview

Jesper Ronald Petersen Head of Global Flow & Solutions at Danske Bank...show more

 

with Vikas Srivastava, global head of FX eCommerce, Citibank.

e-Forex Interview

Vikas Srivastava Head of FX eCommerce, Citigroup...show more

 

ISAM. A world leading systematic hedge fund, with a strong pedigree in quantitative research and technology

Tradertalk

Formed in 2008, International Standard Asset Management (ISAM) is an alternative investment manager specialising in systematic investing. The management team has amassed over 150 years of combined experience within the quantitative alternative investment space. ISAM has deep experience in institutional alternative asset management and trend following strategies in particular. ...show more

 

Insch Capital Management Focused on delivering better risk-adjusted returns

Tradertalk

e-Forex talks with Christopher Cruden, CEO of Insch Capital Management SA, a leading alternative investment manager based in Lugano, Switzerland....show more

 

With Peter Schabus, Co- founder of SYMATE Capital AG

Tradertalk

e-Forex speaks with Peter Schabus, Co- founder of SYMATE Capital AG, based in Zurich, Switzerland, who is responsible for Engineering & System Development at the firm....show more

 

TraderTalk with Randy Rupan, senior sales trader on the FXCM systems desk

Tradertalk

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Ask Tom?

Sponsored Statement

Tom Higgins, a former Chief Technology Officer in the City, London, set up Gold-i six years ago, having spotted a gap in the market for serious expertise in retail FX trading technology for MT4 brokers. As CEO, he has grown the organisation into a global market leader by focusing on innovative products and reliable services which help brokers to trade more profitably and manage their risk more effectively. He is one of the world’s leading experts in MT4, thanks to his technical expertise and experience gained from working with the platform over many years. ...show more

 

2015 – A positive outlook for CFH Clearing and its clients

Sponsored Statement

CFH Clearing is one of the most respected and reputable liquidity venues and Prime of Prime clearing providers in the world. Headquartered in London, the firm focuses on helping financial institutions to grow their businesses – to be more profitable and operate more effectively. ...show more

 

Every Cloud needs a home

Sponsored Statement

The phenomenal growth in cloud based service delivery is changing essential data centre requirements. These cloud services require a physical infrastructure: a safe and secure environment from which the business critical servers and hard drives that contain the applications and data can operate. They require fast, uninterrupted data connections, a totally secure and reliable power supply and buildings that offer the highest possible levels of security....show more

 

Celebrating success: A record performance from Gold-i

Sponsored Statement

This month, trading systems integrator, Gold-i is celebrating four years of being in business. Tom Higgins, Gold-i’s CEO, outlines how the company has grown from a start-up UK business to a global market leader....show more

Why controlling your entire margin trading chain should be a top priority

Sponsored Statement

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Sponsored Statement

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Sponsored Statement

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