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The Profit & Loss / Parker Global Strategies Fund Managers’ Survey 2003


How many banks do you have an active FX relationship with?


1-5


53%


6-10


27%


11-20


20%


21-30

 

30+

 

How many accounts do you typically allocate trades to?


1-5


33%


6-10


7%


11-15


33%


16-20


7%


21-40


20%


41+

 

Do you talk to more or fewer banks now than you did a year ago?


More


40%


Unchanged


20%


Fewer


40%


Do More of your banks offer an FX prime brokerage service?


Yes


66%


No


34%


Do you actively use an FX prime brokerage facility?


Yes


54%


No


46%


Is the FX prime brokerage facility available online?


Yes


66%


No


34%


What percentage of business do you conduct with your top three FX providers?


0-25%

 

26-50%


13%


51-75%


60%


76-100%


27%


 


What factors determine the banks you deal with?

 

Very Important


Important


Not Important

 
 
 
 

Advice


34%


66%

 

Back Office Facilities


60%


34%


6%


Capital Market Intelligence


20%


20%


60%


Charting Packages


13%


87%

 

Credit Quality


66%


20%


14%


Efficient Execution


100%

 
 

FX Market Intelligence


13%


40%


47%


Information Sharing


13%


40%


47%


Internet-based Research


7%


27%


66%


Internet-based Execution


40%


33%


27%


News


13%


33%


54%


Options Pricing Services


40%


60%

 

Pricing (Speed)


94%


6%

 

Pricing (Quality)


100%




Relationship


60%


40%

 

Research


27%


73%

 

Trade Recommendations


7%


93%

 

STP Facilities


33%


27%


40%


Internet-based Pre/Post-Trade Allocation


27%


46%


27%


What is your primary means of communication with your bank dealer?


Telephone


80%


Reuters Bloomberg Email


13%


Internet


7%


Instant Messaging

 

Has this changed in the last year?


Yes


13%


No


87%


What is your secondary means of communication with your bank dealer?


Telephone


20%


Reuters Bloomberg Email


66%


Fax


14%


Instant Messaging

 


Has this changed in the last year?


Yes

 

No


100%


 


What do you use the Internet for?


 

Always


Sometimes


Never

 
 
 
 

Advice


0%


34%


66%


Analysis


13%


40%


67%


Communication


33%


60%


7%


News


33%


47%


20%


Position Keeping


27%


27%


46%


Pricing


20%


46%


34%


Research


7%


54%


39%


Trade Confirmation


46%


40%


14%


Trade Execution


33%


40%


27%


Trade Settlement


27%


40%


33%


Is your programme(s) systematic?


Yes


80%


No


20%



If “yes”, do your banking relationships provide you with execution/straight-through processing services only?


Yes


40%


No


60%


What, if any, are your main concerns about trading over the Internet? (please tick one in each category)

 

Very Important


Important


Not Important

 
 
 
 

Loss of personal contact


13%


33%


54%


Security


33%


54%


13%


Ability to deal in size


54%


27%


19%


Speed of execution


87%


13%


0%


Speed of pricing


80%


20%


0%


Do you receive accurate FX forecasts from your bank counterparties?


Yes


27%


No


13%


N/A


60%


Does your FX research provide accurate macroeconomic forecasts, e.g. interest rate forecasts?


Yes


27%


No


13%


N/A


60%


Are these properly integrated into an FX view or forecast?


Yes


14%


No


13%


Sometimes


13%


N/A


60%


Do you receive thought-provoking thematic research?


Yes


40%


No


27%


Sometimes


33%



What is your preferred method of receiving research?


Word Documents (or equivalent)


20%


PDF


54%


Emailed web page link


26%


Fax

 

Short Message Service

 

Hard copy

 

by post

 

Have you seen significant improvements in the bank’s proprietary websites over the last year?


Yes


74%


No


26%


How concerned are you about the following issues in the FX market?

 

Very Concerned


Concerned


Not Concerned

 
 
 
 

Consolidation Among Banks


46%


21%


33%


Credit Quality


54%


26%


20%


Diminished Personal Relationship


20%


46%


34%


Exchange Rate Risk


7%


20%


73%


Increased Power of Top Tier Banks


20%


33%


47%


Internet


7%


46%


47%


Liquidity


66%


20%


14%

Profit & Loss

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