Unshackling the FX Market

Darren Jer, CEO of MarketFactory, talks to Galen Stops about flash crashes, the new latency arms race and how technology will enable the FX market to keep growing in size. Galen Stops: What’s going to be the main focus for MarketFactory as a company in 2017? Darren Jer: Well let me just start by saying that FX is the biggest market that not everyone knows about. In the equities market last year, $114 trillion was traded across all exchanges; in FX, that figure is $1.4 quadrillion. In FX we talk in average daily volume (ADV) numbers all the time so we’re just used to the size of the market, $5.1 trillion per day, but the general public and traders in other asset classes don’t know the degree of notional liquidity.
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Thinking Big

Carlo Koelzer, CEO of 360T Group and global head of FX at Deutsche Bo?rse Group, talks to Galen Stops about the importance of building critical mass amidst the changing landscape of the FX market. Galen Stops: It’s now about one year on from Deutsche Bo?rse’s acquisition of 360T. Can you shed some light about why you agreed to the deal? Carlo Koelzer: Prior to this deal we were a big trading platform in the market, but a small organisation in comparison to our competitors. When you look at the larger platforms in the market they’re backed by firms like Icap, Thomson Reuters, Bloomberg and State Street, all of whom had larger balance sheets than us.
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A Closer Look at: FXPB

Andrew Rosoman, regional head of FXPB for EMEA, and Colin Wood, FXPB Sales, discuss the migration of UBS’ electronic FXPB platform onto Neo. Profit & Loss: What was the biggest challenge in terms of getting your existing FXPB offering integrated into the Neo platform? Colin Wood: With UBS being one of the early entrants to […]
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Q&A with Lynn Martin, President and COO, ICE Data Services

Profit & Loss: ICE has made significant investments in its market data business in recent years, with the purchase of SuperDerivatives and Interactive Data. Why is ICE investing so heavily in market data services and how do these acquisitions fit in to the exchange’s overall growth strategy? Lynn Martin: We see customers requiring more data […]
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A Closer Look at: Trade Analytics

Emily Eimer, e-FX analytics, and John Estrada, global head of e-FX at Credit Suisse, talk about the firm’s new trade analytics system. Profit & Loss: Talk us through the Real-Time Automated Data Analysis Robot (Radar) you’ve recently launched. What is it and how does it work? Emily Eimer: Radar is our next generation trade analytics tool. […]
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A Closer Look at: Aggregation Tools

Richard James, head of CEM execution services at J.P. Morgan, explains the importance of aggregators as a pre-trade visualisation tool. Profit & Loss: Generally speaking, do you feel that there is a growing client demand for aggregation tools and services on single dealer platforms (SDPs)? Richard James: That depends on whether you view aggregation as a […]
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FinTechs in Focus: 12Sided Technology

When Peter Nabicht started 12Sided Technology alongside Phil Vachon and Chris Casano – respectively the lead engineer and co-founder of the FX hedge fund, AienTech – at the end of 2013, the focus of the company was very different. Originally, the trio were building pricing and price dissemination technology, but soon found out that firms […]
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A Closer Look at: The Client Experience

Sebastian Ostler, Centric e-Banking distribution manager at BNP Paribas, explains what clients want from a modern e-FX platform. Profit & Loss: Thinking about the work you’ve done to improve the client experience over the past year, where are the main areas you’ve made changes to your e-FX platform? Sebastian Ostler: Centric is the gateway to […]
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FinTechs in Focus: LMRKTS

“The beauty of FX is that it’s so pure,” says Lucio Biase, CEO of LMRKTS, a FinTech firm founded in 2011 that focuses on providing compression technology. “You have an asset and an offsetting liability and, when done at market, they discount each other perfectly. If you enter a swap it’s not pure, because you […]
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FinTechs in Focus: Duco

Duco, founded in 2010 in London, is a FinTech firm focused on providing Software as a Service that can compare any data sets, in any format, in minutes and identify discrepancies. Within the financial services industry, the technology being supplied by Duco is being used by firms to reconcile their trading data, a back office […]
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