RETAIL e-FX PROVIDER
“Certainly that scenario might not be applicable to each and every White Label client, but White Label providers should offer that as time to market can be reduced to just a couple of weeks if the White Label providers can perform all the steps required to get the platform up and running,” Behnstedt notes. “In later stages, the White Label client can still in-source parts of the value chain, if desired.”
Capturing business opportunities
As to how White Label programmes can help trading firms grow their marketshare and find new business opportunities, Haman comments: “To operate an advanced technical platform with all its components, security issues, internet bandwidth and low latency demands is difficult, very expensive and time consuming. Brokers will generate and find more business in a complete administrative package where they can have any number of platforms, connected to any liquidity, yet having per customer administration, regardless of how many platforms they are using. Marketing is another advantage, where the customer have all choices available, such as MT4, MT5, Jforex, Mobile MT4/5, Mobile Jforex, Trade-station, social trading platforms and others, all connected to the same trading account, and all synchronised in real time,” says Haman.
However, Behnstedt comments that while White Label solutions can help grow marketshare in the first instance, they can also force a hunt for USPs in a bid to keep those clients. He explains: “As a new market participant in the electronic market space, a White Label solution can really help to conquer new client segments and regions quickly. Te question is, how sustainable will that be? As time goes by, White Label clients are forced to deliver USPs in order not to erode their client franchise. It is a question that White Label clients need to ask themselves continuously.”
“I’m not saying that White Label providers are not delivering cutting edge business and technology solutions, but if the client base of the White Label client requires special features that are currently not (and maybe will not be in the upcoming future) provided by the White Label provider, then the White Label client us running the risk that the solution doesn’t meet the requirements of the client base, which opens the doors to look for alternative solutions,” Behnstedt warns.
“Tis risk needs to be assessed continuously. As an example, if the White Label platform provides CFD trading but some major clients are requiring uneven
152 | april 2012 e-FOREX
Gerard Melia
“Almost all forms of White Labels require some amount of bespoke development or system tweaks, so
firms should access the IT capabilities of the White Label provider, as well as the number and quality of White Labels it already has in its portfolio.”
FX swaps and the White Label platform doesn’t provide that product, then trading CFDs doesn’t help either,” he adds.
Core features and functionality
Behnstedt says features and functionality of White Labelled solutions in FX strongly depend on the requirements of the White Label client’s client base, and the roadmap the White Label client has. As an example, he notes that if the White Label wants to serve the client base as well using mobile solutions, but integration of the White Label solution into existing web presence is not so important, then the White Label client needs to address accordingly in the requirements phase of the White Label deployment.
Core services depend on the individual broker’s current setup and where they are in their business, agrees Haman. He explains: “Each and every one is unique. In the Fair Trading Technology delivery, we can supply a one stop shop for the full brokerage operation, including back office and customer management, first and second line support, network operations control services, liquidity routing with intelligence, spread and
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