Carl Martin Group Technical Director at Eurobase International
Carl Martin Group Technical Director at Eurobase International

First rate: Building FX business through intelligent pricing technology

Carl Martin explains how, with the right rate engine, pricing tool and trading venue, every provider can deliver the levels of speed, quality and service need to build a successful FX business.

To build or maintain a successful foreign exchange business, banks need two things – first-class service and a state-of-the-art rate engine. The advance of buy-side technology, together with increasingly complex foreign exchange requirements, has created a highly sophisticated institutional customer base that demands fast, competitive and consistent pricing across a wide range of currency pairs.Hedge funds and other active traders, who typically trade at high frequency using powerful algorithmic trading models, have been particularly instrumental in driving demand for faster, more accurate streaming prices. The growing popularity of multibank portals, where speed and quality of pricing can make the difference between winning or losing business, have also highlighted the importance of effective pricing technology.During 2005, the most successful banks were those who have invested in enhanced rate engines to meet customer demands. On the other hand, many providers are still using the same...continued

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