Welcome to
e-FOREX Autumn 2011
T
transforming global foreign exchange markets
wo of our main features in this edition are on FX aggregation and post trade FX services and both reflect themes that are highlighted in our focus article on single bank FX
platforms. One is that relationship-based trading has once again become an important trend in the FX market which is demanding more transparency and a return to relationship-based pricing. Te other is that many of the large FX banks have been ramping up their post-trade infrastructures to provide a more seamless and standardised post-trade environment for their customers. Despite continuous innovation and improvement across the industry, there is still significant residual cost and risk associated with FX post trade processing and much still remains to be done to improve the operational efficiency in the lifecycle of an FX trade.
Two other key articles we have put together explore a powerful new technology and fast growing trading service which we are convinced are going to significantly impact the whole FX market over the next few years.
Cloud computing technology is widening access to the FX market and some commentators believe that as we have reached a degree of maturity and commoditization in the provision of trading systems, it is now the delivery capability which is important and this is where the cloud will come into its own in e-FX. Predictions have even been made that the role of bank IT departments are likely to shift towards managing the network, where before they were more concerned about running the application.
Social Investment Networks are a fast growing trading service attracting increasing numbers of followers throughout the Retail FX market. We have examined how the leading social investing models work and what trade replication technologies are involved. Our conclusions support recent research which suggests that the potential global market for this type of trading and investment service is likely to be absolutely immense and we expect most FX brokers to respond to this trend by either partnering with existing providers or striking out with their own tailored solutions. Exactly what impact the social investing phenomena will have on the Institutional FX marketplace is hard to predict at the moment but players in that space would be wise to watch these developments very closely.
As usual we hope you enjoy this edition of the magazine.
Charles Jago Editor
Susan Rennie
Susie@Aspmedialtd.com Managing Editor
Charles Jago
Charles@Aspmedialtd.com Editor (FX & Derivatives)
Charles Harris
Charles@Cjag.demon.co.uk Advertising Manager
Helen Rochford
Helen@Aspmedialtd.com Production Manager
Michael Best
Michael@Aspmedialtd.com Subscriptions Manager
David Fielder
David.Fielder@
e-forex.net Features Manager
Larry Levy
Larry.Levy@e-forex.net Digital events manager
Felix Shipkevich Contributing writer Regulatory Roundup
ASP Media Ltd Suite 10, 3 Edgar Buildings George Street, Bath, BA1 2FJ United Kingdom Tel: + 44 1208 821 802 (switchboard) Tel: + 44 1208 821 801 (e-Forex sales & editorial) Fax: + 44 1208 821 803
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e-Forex (ISSN 1472-3875) is published quarterly in January, April, July and October
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Although every effort has been made to ensure the accuracy of the information contained in this publication the publishers can accept no liabilities for inaccuracies that may appear. Te views expressed in this publication are not necessarily those of the publisher.
Please note, the publishers do not endorse or recommend any specific website featured in this magazine. Readers are advised to check carefully that any website offering a specific FX trading product and service complies with all required regulatory conditions and obligations.
Te entire contents of e-Forex are protected by copyright and all rights are reserved.
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