Regional banks to look for white-label FX in pandemic
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Foreign Exchange

Regional banks to look for white-label FX in pandemic

Solutions providers point to an upsurge in interest this year from regional banks looking to outsource some or all of their FX trading.

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Outsourcing to an organization whose primary function is building financial technology has long held appeal for banks.

Whether they are looking to offer a trading platform for their underlying clients or want access to tailored liquidity based on a wider cross-section of the underlying foreign exchange market than their own prime broker can offer them, they may find that white-label trading solutions produce a better financial outcome, particularly in the wake of the Covid-19 pandemic.

Earlier this year Bank SICH in Ukraine launched a retail FX service, the first regulated banking forex platform in the country, using the trading technology of Switzerland’s Dukascopy Bank, which provided the trading platform, liquidity and support.

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Keith Hill, advisory board member at Caplin

“The changes in working practices brought about by coronavirus have been a catalyst for banks to ask themselves whether their business model in FX needs a major rethink to deliver the returns expected by stakeholders and shareholders,” says Keith Hill, advisory board member at Caplin.

He


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