e-Forex Magazine April 2003
e-Forex Apr 2003 - The ASP Model - fertilising the growth of eFX. CLS & STP - The implications for FX Business Models. Alpha and the benefits of electronic foreign exchange.
e-Forex Apr 2003 - The ASP Model - fertilising the growth of eFX. CLS & STP - The implications for FX Business Models. Alpha and the benefits of electronic foreign exchange.
Heering Ligthart discusses the likely impact of terrorist and other attacks on electronic markets and the role the ACI could play in solving market problems resulting from these disruptions....show more
The ASP software delivered model might have failed to live up to early promises in many industries but not so in FX says Farid Naib, who believes this delivery mechanism for many current eFX services has been overlooked. He goes on to outline the ben...show more
Asset managers are seeking to generate returns (or alpha) and demanding improved service provision in the process. How can the sell-side differentiate themselves from the competition and capture this business? Mark Clarke provides some answers....show more
Few clients will find that a matching engine answers all their needs, but for spot FX trading it’s the most efficient way to trade says David Ogg. He outlines what matching engines are capable of and their benefits....show more
Jeff Larsen notes that many in the past have maintained that FX Options were too complicated to move online. However the growing success of a number of electronic trading platforms goes against the face of past resistance towards market acceptance....show more
CLS is not a black box and many banks looking for a CLS provider are ignoring the strategic implications of their decision say Chris Marshall and Seth Cohen. They examine the upstream (pre-trade) and downstream (post-trade) implications of CLS to sho...show more
The public Internet has great advantages but you get what you pay for and there are no guarantees, warranties or service level agreements. Chris Pickles discusses how these and other factors have brought Extranets to the fore in eFX....show more
Monitoring currency exposure requires a sophisticated risk engine stresses Benoit Fleury. He illustrates how the latest risk management products can not only support complex derivative products but can now also be embedded within electronic platforms...show more
Bill Munroe shows us how, by utilising the defense in depth principle, organisations can greatly reduce the risks of delivering high value FX services over the Internet....show more
Colin Day shows how essential it is in today’s marketplace to enhance customer service whilst keeping costs low and processing efficient. Combining back-office investigations functionality with online transaction data is one way banks can improve ser...show more
A well thought through training strategy can help e-platform providers gain an edge over competitors explains Richard Folcker. And it’s not just their sales teams who need to be brought up to speed. Providers must also offer their clients a range of...show more
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Now that the shakeout is abating of a various eFX business models and trading technology what is the standard for today’s eFX trading platform and how did it get that way? Harpal Sandhu gives us his opinions in this edition of VIEWPOINT....show more
With the help of Anthony Edwards from CMC Partners, e-Forex brings representatives from three major banks to discuss the future of White Labeling and their own offerings....show more
The latest FX survey from Refinitiv asked more than 1,000 of the firms clients from 50 countries about the impact of COVID-19 on forex trading, including their biggest challenges, favoured execution methods, and their experiences working in a virtual office environment....show more
Twenty years ago, the foreign exchange market entered the dawn of electronic trading. Several years after the launch of EBS and Reuters Matching for the interbank spot market, a race kicked off to establish the first dominant customer-to-bank FX trading platform for the industry. The establishment of FX electronic trading platforms such as FXall, FX Connect, Currenex, 360T, Bloomberg, and many others over the proceeding years has had a profound effect upon the FX market....show more
Integral’s CEO, Harpal Sandhu talks to e-Forex about the current product set of the company and is then joined by Brandon Mulvihill, Global Head of FX Prime Brokerage at Jefferies to tell us more about their joint venture TrueFX, an award winning purpose built FX OTC venue that was launched late last year....show more
Latency has been a hot topic in financial markets since the rise of high-frequency trading in the early 2000s. Low latency has been replaced with ultra-low latency (ULL) in liquid markets as technology has slashed tick-to-trade latencies below one microsecond...show more
By crunching vast quantities of data by computer, machine learning algorithms can identify hidden patterns in past data and learn to forecast stock market returns or FX currency pairs. Large banks have been investing millions into advanced technologies...show more
Even allowing for a certain amount of hype, there is plenty of evidence that institutions are showing increasing interest in investing in digital assets. As yet however, the e-infrastructure to support them is fragmented and imperfect. Richard Willsher investigates....show more
Algorithmic-based smart contract liquidity pools such as Ethereum’s Uniswap, or privacy-focused, off-chain decentralized exchanges such as Starkware’s StarkDEX are just two examples of projects leading the charge. Inbound/outbound liquidity is essential for the creation and growth of financial markets....show more
So things are ticking along quite nicely, and you are making money each month, but you feel in your bones that something is missing. Only a true entrepreneur would be mad enough to start their own business and live a life of uncertainty, risk, and, sometimes, reward. ...show more
It is now almost a year since the Bank for International Settlements (BIS) published its Triennial Central Bank Survey on Foreign Exchange turnover, which showed that Singapore had retained its position in third place behind London and New York...show more
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Over the past several years, we have seen a continuous migration of client FX flows away from voice channels to electronic delivery channels. Recent surveys would suggest that +/- 80% linear products are now executed electronically...show more
As LCH’s ForexClear is about to start clearing non-deliverable foreign exchange options (NDOs) we asked Kah Yang Chong, Head of ForexClear Product, Europe, the Middle East and Africa, to tell us more about this initiative....show more
Talking with Evgeny Sorokin, SVP of Software Engineering at Devexperts: The firm that’s a techology launch pad for brokers of all sizes....show more
FX salespeople of the world, unite! Rise up, resist the tyranny of trading technology spend. Wave your laptops and mobiles in the air, thump your kitchen tables or wherever you happen to be home-working and demand, “Give us the tools to be able to do our jobs and cover clients as they deserve!”...show more
GCEX is a technology-agnostic platform, allowing brokers, funds and other professional traders to access deep liquidity in all the markets it offers. We spoke to CEO, Lars Holst, CFA, to discover more about the firm and how it intends to lead the next phase of financial digitalisation....show more
The FICC Markets Standards Board Limited (FMSB) recently published a Spotlight Review focusing on the risks associated with remote working in FICC markets. We republish this....show more
Regulatory requirements, clients’ drive for efficiency, and the experience of working from home during the COVID-19 pandemic are spurring a shift of FX option activity to platforms....show more
Matthew Hodgson, CEO and Founder of Mosaic Smart Data discusses FXLIQUIDITY, a collaborative project set up between Mosaic Smart Data, CLS and MUFG, delivering free FX liquidity insights to the market in response to the COVID-19 related market turmoil. ...show more
David Woolcock, Director, Business Consulting at Eurobase Banking, tells us why now, more than ever, integrating treasury and trading operations is helping banks and payment firms navigate the new landscape....show more
Digital assets are part of a broader class of financial innovations and arguably originated in e-money and credit card projects in the 1990s. However, a balance of your funds digitised, and accessed through even an ATM for cash, could also make it a ‘digital asset’. Computer-based representations of real-world assets are currently reimagined using tokens and smart contracts....show more
Any broker who is serious about delivering a high-quality trading experience for customers has to be prioritising liquidity. But in a world where the number of brokerages continues to grow, whilst direct access to Prime Broker accounts becomes ever more difficult, how are...show more
There are thousands of investment firms registered globally, and more are popping up every day. With such a massive pool of brokers to choose from, your prospects are looking for the “best”. ...show more
Mike Harriss, Head of Partnerships at TruNarrative, talks to e-Forex about working from home, the rise in digital onboarding, and how his firm is working with FX businesses to meet their needs....show more
With an average of $6.6 trillion of trades per day, Forex markets underpin many investments and all international capital flows....show more
Edgewater Markets is a leading technology-driven market leader in workflow management and execution services. We asked Matt Kassel, Chief Operating Officer of the company to tell us more about the firm and the unique platforms it operates...show more
Multi asset Prime Brokerage Invast Global has merged many decades of experience in the Japanese domestic online broking industry with some of the sharpest institutional brokerage executives in the industry, to build a multi asset liquidity offering for online brokers which has won awards across the globe – and a growing legion of loyal clients....show more
I would argue that real money firms learn less about the efficiency of their workflows and the performance of their technology during quiet markets, when the overall cost of trading is low, than they do during stressed market conditions when volatility suddenly spikes...show more
Electronic FX trading in the Australian market had already migrated substantially to e-platforms. Covid 19 has boosted the trend, writes Richard Willsher....show more
Quinn Perrott and Sophie Gerber report on how the industry has responded to the release by ASIC of Consultation Paper 322....show more
By John Stead, Global Head of PreSales at smartTrade Technologies...show more
The history of Tools for Brokers (TFB) began 10 years ago when the world and the Forex market both looked very different compared to today. Back then, there was less competition, less regulation, and most definitely less understanding of the best way to move forward....show more
The cryptocurrency derivatives market has as many specific attributes as the cryptocurrency spot market. Namely, they feature developed decentralisation, largely unregulated platforms and diverse instrument specifications...show more
CMC Markets institutional suite provides top class liquidity services across multiple asset classes. The company offers a flexible approach so that clients can connect to its liquidity by using either proprietary trading platforms, or via third-party technology. We talked to Richard Elston, Group Head of Institutional at the firm to tell us more....show more
Nicholas Pratt investigates how well Prime Brokerages have passed the tests and overcome the challenges posed by the pandemic....show more
By Trent Beacroft, CEO of Euronext Markets Singapore...show more
By Pete Eggleston, Co- Founder and Director of BestX...show more
The first four phases of UMR have come into force in stages since 2016 and have affected banks. Many buy-side firms will now come into scope with Phases 5 and 6 of UMR, which are now delayed 12 months to September 2021 and September 2022, respectively. We asked Ankeet Dedhia, Americas Head of Product, ForexClear, LCH to comment about this....show more
e-Forex spoke with Robert (Bob) A. Santella the Chief Executive Officer of IPC about the services IPC provides to the FX market and why it is ideally positioned to capitalize on how our market is likely to evolve over the next few years....show more
Since its inception, the $6.6 trillion foreign exchange (FX) market has traded over-the-counter (OTC) between counterparties. While trading on exchange, like in equities and commodities, has been around for decades, the take-up in FX has been much slower......show more
In recent years, in a bid to capture liquidity away from the traditional OTC/bilateral markets, exchanges around the world have been heavily promoting a wide range of new and improved exchange-traded derivative (ETD) contracts for FX...show more
Trading in emerging market currencies is growing rapidly. Nicholas Pratt examines how the use of automation and innovation in digital technology will be critical in managing the operational risk and market volatility that comes with that....show more
Having shown their resilience in the early days of the pandemic, bank FX trading departments are turning their sights back towards the operational developments that will ultimately secure their long-term viability....show more
The past few decades have seen what can only be described as a revolution in data. A generation ago, businesses from every industry rushed to develop an online presence. More recently, building upon the exponential growth of the internet...show more
The spot Forex market has grown significantly from the early 2000s due, in part, to the influx of algorithmic platforms. The rapid proliferation of information, as reflected in market prices, can present multiple arbitrage opportunities. ...show more
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