Day: 17 August 2017

Fortex Taps Pérez for LatAm Sales Role

Fortex has hired Paula Osorio Pérez as director of sales for the Latin American market.

Pérez most recently held the position of director, sales and relationship management for Thomson Reuters (TR) where she helped grow the Mexico business for TR and their FXAll trading platform.

Prior to that, Pérez held roles in commercial banking, e-FX Sales, and FX sales for global banking and markets at HSBC. At the bank she worked on the trading and sales desks, executing day-to-day FX and money market trades for global banking and markets’ clients.

Making Peer-to-Peer Matching a Reality

Paul Aston, CEO of Tixall Global Advisors, discusses the feasibility of peer-to-peer FX matching between large buy-side firms.

One of the long-standing problems with the concept of peer-to-peer matching between buy-side firms is that the probability of being able to actually put together complimentary buyers and sellers is very low. For example, the chances of a large asset manager needing to sell a certain amount of a particular currency at the exact same time that an insurance company needs to buy the same amount of that currency are remote.

Aston refers to the need to “get away from the quantum problem of having to know when something is available in time and level”, and suggests that there needs to be some form of “dark mechanism” whereby these buy-side firms can leave an order without it being exposed to the market, in order to make peer-to-peer trading more feasible.

And Another Thing…

Back in the early years of this century the path to success for a multi-participant platform in the FX world was lined with customers – genuine buy siders. If a platform could get the customers on their venue the banks – for it was the banks alone back then that were providing the liquidity – would follow.
This has pretty much been the case ever since, however I sense that the next year could see the seeds sown leading to a significant shift in this landscape.