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FX Platforms: Optimism Abounds for 2017 Galen Stops looks back at how the OTC FX platforms fared in 2016 and talks to them about their strategic plans for 2017. Speaking to platform providers at the end of 2015 about their prospects for the next year, they were all fairly bullish that a period of subdued volatility, and subsequently trading volumes, was about to come to an end. And on the surface, the reasons they cited for this optimism were logical. The US Federal Reserve had just approved a quarter-point increase in its target funds rate, the first change in rates since 2009 and the first increase since 2006. Many hoped that further rate increases were coming and that interest rate differentials might start to produce trading opportunities and therefore lift FX volumes.
Hybrid FX Options Trading: Best of Both Worlds? In August, Tullett Prebon announced a partnership with GMEX group to develop a hybrid voice and electronic trading platform for trading FX options. But what are the drivers behind such a deal and can it really give Tullett an edge in today’s electronically traded markets? Nicola Tavendale writes. Despite a 24% decline in average daily turnover since 2013, global trading volumes in FX options remain significant at $254 billion, according to the most recent Bank for International Settlements (BIS) survey.
What Nex for EBS? As EBS BrokerTec prepares for the departure of a CEO that has driven so much change at the firm and its transition to being part of Nex, Galen Stops looks at the firm’s evolving role and identity within the FX market. News that Gil Mandelzis, CEO of EBS Brokertec, is stepping down from the role has triggered the usual speculation over a successor and the business conditions the next CEO will face. Without doubt, the next head of EBS will be taking the reins of a very different company to that inherited by Mandelzis.
XTX Joins 360T: A Sign of Things to Come? The news, reported last week by Profit & Loss, that XTX Markets has joined 360T’s platform as a streaming liquidity provider, has raised a few eyebrows in the FX market. Given that 360T is generally perceived to be an FX ...
JP Morgan’s rejuvenated single dealer offering is nearing completion, but as Colin Lambert finds out, the journey to this point has taken a different course to most offerings. The story of platform development within the e-FX banking industry over ...

in Analysis, Platforms

EBS at 20

One of the core market mechanisms launched 20 years ago this month. Colin Lambert takes a look at the impact of EBS on FX markets – and, more latterly, the impact of markets on EBS. As EBS enters its third decade of ...

in Analysis, Platforms

Eurex to Enter FX Fray

The European exchange is making a play in FX to ensure CME Europe doesn’t get the field to itself.  Eurex is to offer FX futures and options trading to its customers following an extensive consultation process. The new offering ...

in Analysis, Platforms

Cürex: Building a Bridge

Cürex founder and CEO Bill Dale talks to Colin Lambert about the firm’s different approach to FX.  While automation has been a driving force in FX markets, there have been several sub-plots that have also provoked debate. Can ...
While all seems rosy in the FX world following the FX committee surveys, there are a few interesting questions over activity on those platforms that publish data. Firstly, why weren’t results a little more positive and secondly, where did ...

in Analysis, Platforms

EBS Rebrands, Hires Two

One of the major players in the inter-dealer space has a new name...and new staff. Alice Attwood reports.  Icap’s electronic foreign exchange platform, EBS, has been renamed EBS Market as part of a restructuring of the management of ...