FXIC Shanghai

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.

FXIC Shanghai

The event’s goal was to enable non-Chinese firms to get a full understanding of the current business and regulatory landscape in the Chinese retail and wholesale FX markets as well as providing local market participants with information on global best practices, liquidity, technology, and credit solutions. 

“We structured the event to create a bilateral exchange of ideas between non-Chinese companies seeking to learn about entering the onshore market and the growing network of resident brokers and IBs, desiring to find out more about industry best practices as well as leading technology, liquidity, and credit solutions,” said Ian McAfee, Chief Executive Officer, Shift Forex. “We also concentrated on bringing top Chinese securities firms, because many Western brokers have found these companies to be important partners for larger scale expansion in China.”

Good mix of providers

The mix of Chinese brokers and IBs with non-Chinese solutions providers created a productive environment. 

“We were impressed by the keen interest from local market participants in implementing best-in-class solutions across the board,” said Lachlan Green, Director, Advanced Markets, which provides liquidity, technology and credit solutions to a number of the largest Western brokerages operating in China. “Whereas we have a strong direct presence in Hong Kong, Korea and other Asia-Pacific markets, China will be an area of significant focus for us going forward.”  

Shift CFO Greg Berman moderating the 
“How to Apply the Right Liquidity Mix”

Shift CFO Greg Berman moderating the “How to Apply the Right Liquidity Mix”

Informational sessions on the current state of FX regulation, the future of the renminbi , the Shanghai Free Trade Zone, the challenges of operating in China and other topics were led by representatives of Citic Securities, Standard Chartered Bank (Hong Kong) Limited, PwC China, CAIFX, the Ki Yang Finance School as well Advanced Markets, Saxo Bank, TradeTools FX and FXCM Asia.

“The opportunity for foreign exchange in China is vast with virtually every significant company looking to enter or expand here,” said Greg Berman, Shift’s Chief Financial Officer. “However the challenges and knowledge gaps for non-Chinese firms are equally daunting, which is one of the primary reasons we organized this event.” 

To ensure an informed local perspective , Shift partnered on the event with FX Shell, a Shanghai-based foreign exchange media and consulting company with extensive ties to brokers and introducing brokers throughout China. 

“FX Shell has been an invaluable source of local market insights and ideas for the event as was highly effective in attracting leading FX companies in China to the event,” said Shift’s McAfee.

Coming up

Next up for FXIC will be the second annual Latin American edition of the global event series to be held February 10, 2015 in Mexico City.

“The event, which we’ve titled, “The Forex Landscape in Latin America,” will look across the institutional, wholesale and retail industry and provide a forum for both buy and sell-side FX market participants to network and swap information,” McAfee said. “Like FXIC Shanghai, the event will enable market participants from across Latin America to network with representatives from leading FX institutions and solutions providers located outside of the region.” 

Shift CEO Ian McAfee speaking 
with an event attendee

Shift CEO Ian McAfee speaking with an event attendee