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Electronic platforms: Single portals of discovery predicted for multiple assets

There’s widespread agreement that there are too many portals providing FX prices but consolidation has been slow. Is the market going to stop waiting and roll out multi-asset platforms instead?

John Eley, Hotspot FX John Eley, Hotspot FX: confidence is key

A recently released Barclays Capital survey of 800 of the bank’s e-commerce clients suggests that the days of providing a one-product platform may be numbered. Among its other findings, the survey concluded that most e-trading users want to have multiple assets available on a single trading platform. To an extent, more sophisticated players in the market can create virtual multi-asset platforms. Vince O’Sullivan, director, European e-commerce at Barclays Capital, says that the bank is already delivering multiple product lines to its clients through FIX APIs. However, as he points out, many clients do not have the IT resources to do this.

BarCap sees value in doing it for them, so it is now planning on adding other products to its Barx platform, which at the moment has FX, metals, money markets and liquidity funds from Barclays Global Investors. According to O’Sullivan, fixed income products will be available on Barx this summer, with other products loaded up as end user demand builds.

O’Sullivan points out that as well as meeting the desire for a multi-asset platform, having a wide range of products on a single platform also delivers cost savings to the bank.

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