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| EuromoneyFXNews e-trading survey: Index |
On Barclays Capital’s Barx:
“They’ve got the best all-round offering but they won’t always have the best price on the tape at any given moment,” says a UK corporate who uses the platform. “However, that’s not to say they will always have the widest range of currencies.’’ “We like its cross-rate calculators for any two currencies to any date – a few taps with a keyboard and you’re there with a price,” says a UK-based retail FX aggregator. “It doesn’t matter whether it’s an exotic, or what your convention is, or which round it is. For instance, EUR/SGD or SGD/EUR.”
“We like the ability to put in bids and offers, and the various ways they display rates,” says a UK fund manager. “We like the one-touch for the more common currencies, and you can also build up pages of whole lists of currencies just there for the info, so you just click straight into it. There’s also the way you can do swaps and forwards. You simply tap out a date, and bang – a ticket comes up.”
On Deutsche Bank’s Autobahn:
“Their pricing is superb – very competitive,” says a London-based agency broker. “I’m very price sensitive as are other funds – we’re not after light-ups and research and all that. I’m after a simple platform that’s easy to construct for someone like me, who just trades specific currency pairs.”
On reasons for switching to Autobahn within the past three months:
“It was just the pricing that made us switch,” says a London-based hedge fund manager. “It was also the sheer amount of liquidity they offer me. It’s simple to use and ticks all the boxes from a trading perspective.”
On Goldman Sachs’ Redi Trader:
Goldman Sachs’ Redi Trader and Morgan Stanley’s Matrix – while only placed ninth and 10th respectively in Euromoney’s annual FX volume survey in 2011 – take fifth and sixth place in the preferred rankings for single-dealer portals.
One retail FX aggregator says of Redi Trader: “It’s an excellent platform, with the ability to get in and out currency swaps, with various dates, without having to go to another screen. It’s the total all-round functionality that we find makes our job easier. The order function, for example – we use it an awful lot – is very easy to get in and out of.”
Full survey results and analysis are published by EuromoneyFXNews
