Currency Derivatives Online –Is Technology what matters?

The Goldman Sachs experience

Goldman Sachs launched their WebET platform in 1998 as a multi-product platform (offering fixed income, equities, convertibles, futures and foreign exchange). The platform is internet based and with more than 400 users at various institutions, WebET has consistently ranked as one of the leading FX execution platforms. We asked the bank for their own views on the implementation of online currency derivative trading and particularly their opinions on some of the most commonly mentioned arguments against ie. technological constraints, resistance from those managing the risk, fear of “survival pricing” and clients’ supposed unwillingness todeal exotics online.Along with our other competitors in the foreign exchange market, our platform started offering simple instruments that trade in high volume at low margins in liquid markets (spot, forwards, swaps). It soon started to differentiate itself trading vanilla options online during the first week of December 1999, only...continued

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