Roger Aitken
Roger Aitken

Re-engineering Post Trade FX: Re-engineering Post Trade FX: Moving into a new era of STP

While previous efforts to deal with the complex and convoluted connectivity issues associated with Post-Trade FX may have occasionally hit the buffers and failed to deliver the anticipated cost savings or the efficiencies required for the market to move to the next stage, evolutionary steps continue apace. Roger Aitken gauges industry opinion.

In the past, attempts to tackle connectivity issues associated with post-trade FX may have failed in certain areas and with particular issues, to deliver the cost savings or efficiencies needed for the market to move onto the next stage. That said, over the last few years there have been exceptions with industry utilities like SWIFT and CLS delivering significant value and successfully providing useful features for market participants, plus a variety of vendors providing value in particular niches.  Fundamentally the FX market landscape has developed in a fragmented way because the solutions, trading platforms and ECNs that have evolved have followed a path of automating the current trading processes of the day at that time, rather than inventing completely new methodologies.  “In many cases in the early days, post-trade was an after thought, although now it’s a pre-requisite for any new platform coming to market,” states Peter Kriskinans, Managing Director, Option Computers...continued

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