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Treasury

Covid spurs treasury focus on FX best execution

Corporate treasurers have much to gain from improving their understanding of liquidity venues and trading options.

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Larger corporate treasury departments must have good insight into the range of FX trading products available to them to succeed. This is invaluable when combined with analytical insights into execution performance.

Market knowledge is, however, now dispersed more broadly. According to Brad Bailey, a research director in Celent's capital markets division, a much broader set of corporate treasurers are now getting smarter about the venue landscape and their options for executing FX trades.

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Brad Bailey, Celent

However, small and medium-sized enterprises (SMEs) often don’t have access to trading venues where they can compare and execute at the best price.

“Most venues are complex to set up, have too many sophisticated features, require multiple banking lines in place, and the reporting of trades often requires users to have a treasury management system which is out of reach of SMEs,” says Laurent Descout, CEO and co-founder of treasury fintech Neo.

BestX CEO Pete Eggleston notes that the absence of regulatory pressure on corporates has generally meant that their understanding has lagged that of the institutional investor sector where the Markets in Financial Instruments Directive (Mifid II) is a consideration.

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