April 2011
Manfred Wiebogen Foreword
G20, EMIR and Dodd Frank
James Kemp Leader
An industry united
contents
FOREWORD 22. Once more: G20, EMIR and Dodd Frank
Manfred Wiebogen underlines once again the transparency and effectiveness of the self-regulating FX market and questions whether FX Swaps and Forwards should really be classified as derivatives.
LEADER
24. Unintended consequences – An industry united but under threat
Mike Hill Industry Report E-Commerce capabilities
Frances Maguire FX Prime Brokerage Meeting regional demand
With FX under threat of regulation in the US and in Europe, James Kemp outlines how proposed changes could have serious unintended consequences for the industry, which is united in its efforts to explain to the regulators why it should be treated differently.
INDUSTRY REPORT
32. E-Commerce - Capabilities and Practices
Nicholas Pratt
FX Liquidity Management More holistic approach
Roger Aitken FX Market data
Technology unlocks power
Mike Hill explores some of the more interesting findings, relevant to FX, from a recent market research exercise undertaken by Lepus, which assesses the current e-Commerce capabilities and practices at a variety of investment banks.
FEATURES
38. A commitment to excellence - meeting regional demand for FX Prime Brokerage services
Richard Olsen e-Forex interview FX Visionary
Heather McLean MT5 platform Widening horizons
As FXPB continues to grow, Frances Maguire speaks to a selection of leading FX prime brokers to see how they
A
Abovenet ACI
ADS Securities AFME Alpari
Aphelion B
Jeff Grossman Viewpoint
Customer objectives
Tom Higgins FX Mythbusters MT4 misconceptions
Bank America Merrill Lynch page 41 Barclays Capital BIS
Bloomberg Tradebook BNP Paribas
Boston Technologies British Telecom
C 4CAST
Caplin Systems CIBC
Client Knowledge CLS Bank CME Group Credit Suisse
D
Deutsche Bank Dow Jones Dukascopy
Greg Hay
Traders Workshop Mirror trading
Thomas Suter TraderTalk
With Quaesta Capital AG 2 | april 2011 e-FOREX E eSignal page 37
page 11 page 14 page 3
page 12 page 32 page 63 page 72 page 28 page 119 page 9
page 45 page 70 page 111 page 49 page 141 page 89
page 91 page 22 page 12 page 24 page 31 page 15
Exponential-e Eurobase
F Fair Trading Technology
page 94 page 27
page 29
Financial Software Systems page 137 FlexTrade FXall
FX Architects FX Bridge FXCM FXDD
FX Street G
GAIN Capital Gold-i
H
Henyep Capital Markets Hibernia Atlantic Hotspot FX
I
IBTimes ICAP
Instaforex IPC
IQPC L Lepus LetstalkFX page 32 Inside Front Cover S Saxobank page 47
page 12 page 10 page 169 page 93 page 44
page 172 page 94 page 13
page 129 page 150
Inside Back Cover page 19 page 136 page 67 page 81 page 165 page 162
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are catering for regional demand and expanding services to meet the diverse needs of new and established clients worldwide.
50. Taking a more holistic approach to the business of FX Liquidity Management
Nicholas Pratt examines some of the challenges facing liquidity distributing banks who are looking to build more holistic liquidity management systems that can operate in a faster, more diverse, more complex and more competitive marketplace.
60. Choice and Flexibility – reaping the benefits of more integrated FX e-Commerce services
With the growth in electronic FX continuing unabated, Frances Maguire canvasses a few leading e-FX providers to find out what feedback they have been getting from clients and why e-FX should now be viewed as a strategic asset.
FOREX TECHNOLOGY
70. Technology: unlocking the power of FX Market Data
Both large and small sized FX trading firms are facing spiralling FX transaction volumes and a need for handling ever increasing quantities and types of market data. Roger Aitken sets out to discover what issues are involved.
M MB Trading Merchant Capital
MetaQuotes Software MIG Bank
Moneyshow Morgan Stanley N Nadex
Nexaweb Technologies Nomura Nordea
O Oanda One Zero P PFG Best
Philip Futures PrimeXM
Q Quaesta Capital
R Real Forex R.J. O’Brien
Royal Bank of Canada Royal Bank of Scotland
page 176
page 14 page 14 page 65 page 7
V Vantage FX Velsys
page 167 page 59
page 115 page 35 page 175
page 21 page 143
page 133 page 77 page 6 page 5
page 127 page 16 page 163
Outside Back Cover page 114 page 44
SEB Shipkevich Law Firm page 8 page 20
SmartTrade Technologies page 57 Societe Generale
page 62
Square Financial Services page 144 SSC Technologies
page 95
Standard Chartered Bank page 16 StreamBase SunGard
Superderivatives Swedbank Sybase
T
Thomson Reuters TMS Brokers Tradency
TraderTools
page 10 page 132 page 155 page 55
Transaction Network Systems page 87 Two Four
U
UBS Investment Bank United World Capital
page 43 page 157
page 18
page 83 page 97 page 17 page 8
page 73
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