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International, observes that: “Financial institutions and brokers are better off to plan their decision making process, and to actively manage that decision once made. It is, like many other decisions, at the end of the day a pure ‘make’ or ‘buy’ decision.
Jan Bak “Tough markets call for a strong partner.
Being a bank we are a regulated entity undergoing and passing regular inspections - this has become
increasingly important for banks and brokers when choosing a White Label solution provider.”
observes. “Tese are all well and good and certainly appeal to some retail investors, but the real value in a trading platform comes from having a tried and tested, robust system supporting the client base. Te more established providers in the FX White Label world have had years to enhance the stability, capacity and execution speed of their platforms. It is essential that any broker short listing providers should evaluate them on these basic yet vital features as well.”
Continuing, Melia says that as a broker is ‘passing on’ the White Label provider’s products, pricing and customer experience they need to ensure that the provider is offering the range of services required by the brokers’ clients, as well as having the pricing model in place that meets the expectation of the target market. Also, the brand is important. Melia states that retail investors are becoming more savvy in regard to brokers offering White Labels, and that they understand the concept of having a White Label provider in the background. “Often, with little effort, clients easily identify the White Label provider and this goes a long way to establishing the clients’ confidence in the trading solution,” he remarks.
Buy versus build Ralf Behnstedt, managing partner at FXA
148 | april 2012 e-FOREX
“Among other fundamental questions, they need to take into account are how much they need to differentiate themselves on the market with a platform,” Behnstedt continues. “A White Label platform will never create a unique selling point (USP) in itself, as other institutions can use the same platform as well. Clearly, a ‘make’ solution would allow an institution to create USPs that other solutions would not have. On the other hand, using a White Label platform may be far more affordable, as building a solution involves the additional risk of running out of time and budget. Time to market is also key in these times, where businesses and technologies are changing fast.”
What the client wants
Another topic that needs to be taken into account is the costs for hosting and maintaining the solution, adds Behnstedt. He says: “In general we recommend that new market participants aim for a White Label solution in order to move their business towards the electronic market, and advanced market participants aim for a bespoke system that can even be based on an already existing solution, to create a unique USP.”
Fair Trading Technology CEO, Tim Haman, says the are a number of important basis points for making the right choice, including platform availability, platform stability, and security, but also what the customers are asking for. “Te broker platform and back office administration is very important. Fair Trading Technology optimises the complete setup, which means the trading account is the central core, and all connected platforms are only managed once, in a 1:1 account setup over all platforms. Tis reduces broker administration and management, which is one of the key factors. he adds.
For Ioannis Kantartzis, head of institutional sales at FxPro, White labelling should be a straightforward affair, with minimal set up and upfront investment required from the client. “It can be done simply and promptly. As a retail broker competing in the White labelling arena, we are able to proceed with a fully integrated set up, across all disciplines and configured to meet individual requirements, while constantly focusing on swift delivery.” He adds: “Given the tough
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