Transparency, efficiency and innovation

Uncovering the real benefits of Institutional ECNs and new trading venues for the FX buy-side

With Roger Rutherford, Chief Operating Officer, ParFX, John Miesner, Managing Director and Head of Sales at KCG Hotspot and Alan F. Schwarz, CEO of FXSpotStream LLC. Do you agree with some commentators who believe the ability of many FX market participants to manage risk via electronic platforms has been degraded over the last few years and is therefore not as effective as they would wish? RR: The global FX market ecology will always be in a constant state of flux and it is incumbent on everyone to keep pace with the changes. As the ecology evolves, market participants have to amend the way they execute and manage risk across all outlets, including electronic trading platforms. Developments over the past few years – such as the opening up of those platforms to different market segments, underpinned by low latency technology and the proliferation of market data products – is clearly causing concern. Hence the market’s push for greater equality and...continued

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