Peter Brooks – Head of eFX quoted: “This has been key in driving our business forward which we are certain will promote confidence and a reassuring ability that we can support both our internal desks and external clients across all of their FX requirements”
A crucial target for us was to adopt the FX Global Code. This is a set of global principles of good practice in the FX market, developed to promote the integrity and effective functioning of the wholesale FX market. It provides a common set of guidelines to ensure a robust, fair, liquid, open, and appropriately transparent market. The Code is not legally binding but serves as a supplement to local laws and regulations, promoting good practices and processes. Naturally the prime motivation was to ensure we continued to comply with the rules and regulation of the FX market, but also to set us apart from our competitors, whilst unifying us with our Liquidity providers (LPs) and trading venues.
Looking at how we plan to grow the business we made a key hire to build out a well-rounded sales team with a set of skills and expertise to drive growth in new areas since we’ve seen the opportunities for 100% STP liquidity providers shrink in the traditional retail broker space. A key area for growth will be our footprint in the Private Market and Treasury space. To lead that effort, Alex Bayle rejoined the desk as Head of eFX Institutional Sales after a three year stint at MillTechFX.
Alex Bayle – Head of eFX Institutional Sales quoted: “With heightened currency volatility affecting the USD, GBP, and EUR, treasuries are increasingly pressured to manage FX risk more effectively. Various organisations from funds through to corporates, are turning to straightforward hedging tools like forwards and swaps, which provide needed liquidity and flexibility, especially in unpredictable market conditions. Many are opting for shorter-term forwards, typically under six months, to keep a flexible stance on risk management.
In the treasury landscape, regulations such as Basel III have further pushed for advanced liquidity management and rigorous risk oversight. As a result, finance teams are adopting more sophisticated FX and liquidity solutions, though the effectiveness of multibank FX platforms varies significantly. Research by the Association of Corporate Treasurers reveals that a notable percentage of CFOs are impacted financially by unhedged FX exposure, underscoring gaps in tech adoption. In this context, geopolitical influences like the U.S. election add complexity, making dedicated liquidity management critical.
Advanced FX solutions, such as those provided by ADMISI’s eFX desk, can empower treasurers, CFOs, and finance teams by supporting all aspects of execution, hedging, liquidity management, and counterparty evaluations, while fully aligning with the FX Global Code”
WHAT IS NEXT FOR THE EFX DESK? We understand the importance of post trade analytics which are an essential tool to assess behavioural patterns of trading algorithms, counterparty performance, and market impact along with Transaction Cost Analysis (TCA) and liquidity analysis, to improve the overall execution quality. Tools like those from Fair Exchange facilitate data-driven dialogue with counterparties, enhancing transparency and execution analysis. This platform is widely used by many of the tier one banks providing a service to collaborate and fine tune liquidity so that counterparties can continue to become meaningful to both liquidity providers and clients.
With regards to growth, we will of course continue to seek out sales opportunities in different client demographics and regions, promoting our product through various social media platforms and outlets along with conferences where we feel we can add value.
WATCH THIS SPACE…
Jessica Reid E:
jessica.reid@
admisi.com T:+44(0) 20 7716 8133
Please note this article is a ADMISI desk promotion piece.
21 | ADMISI - The Ghost In The Machine | Q4 Edition 2024
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