DBS Bank – developing e-strategies and customised FX solutions for clients throughout Asia

e-Forex talks with Kwa Woei Kyet, Head of FX Liquidity at DBS Bank

What was the impetus that gave rise to DBS e-FX strategy? According to the BIS triennial survey, the average daily turnover of global FX was $4 trillion in 2010 compared to $3.3 trillion in 2007.  This was a 20% increase which substantiated our long-held view that FX, with its continuing rate of growth, could easily out-strip our trading and dealing resources, we put together an e-commerce strategy and reviewed how we conducted our businesses In order to maintain our competitiveness and meet these ever changing dynamics. We began in 2006 to put in place a modest but ambitious e-commerce plan to handle this growth.  We envisaged that DealOnline would be our flagship e-commerce platform for distributing DBS Treasury’s products to internal users, corporations and financial institutions. Starting with FX, the most commoditised asset class, we began to roll out DealOnline internally to sales and customer facing units – DBS Private Bank and DBS Treasures affluent banking – that...continued

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