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LATEST ARTICLES
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FairXchange’s mission lies in its name. It aims to create an open and transparent marketplace for all participants. Its independence and trusted, decentralised network mean that it is strongly positioned to facilitate the fair exchange of FX liquidity data.
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Euromoney Foreign Exchange Awards 2023: Global market leader – best FX market innovator: BNP ParibasThe evolution of ALiX is testimony to BNP Paribas’s commitment to innovation. Over the last four years this personal digital execution assistant has expanded to cover all available products in Cortex FX in one small widget that fits neatly in the corner of a client’s screen.
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BNP Paribas leads from the front in its development of trading technology. Innovation is at the heart of the business, and the focus on technology and product rollouts has involved notable developments to its FX algo suite.
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Euromoney Foreign Exchange Awards 2023: Best bank services – best FX bank for research: State StreetMore than 80% of the world’s largest asset managers consume State Street research, as well as global sovereign wealth and pension funds and corporate treasury departments.
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Wells Fargo has worked to become a top-tier institutional FX provider by leveraging its robust corporate and commercial FX franchise. To accomplish this, it has been actively building its capabilities in the e-trading space.
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Deutsche Bank’s spot market share has increased by 13% over the review period, driven by innovations in electronic pricing solutions, thought leadership and a dedicated global voice-trading team that is able to keep the liquidity tap running for clients in the face of macroeconomic challenges.
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UBS has invested and innovated in its liquidity offering for the last 20 years – the result is its strong reputation for quality and reliability, particularly during periods of market dislocation.
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Real-money clients are central to State Street’s franchise, so it makes sense that this is a client segment the bank has performed well in, according to Dale Haver, global head of foreign exchange sales. “We work with real-money clients as partners and are 100% focused on achieving better outcomes for them and their investors.
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In May 2022, CME Group completed a multi-year migration to combine two leading FX trading venues through a common technology and service offering to create a platform spanning futures and options, cash (over-the-counter) and cleared FX, providing access to price discovery, execution quality and transaction cost analysis for market participants including banks, hedge funds and asset managers.
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Santander’s presence in Brazil, Argentina, Chile, Colombia, Mexico, Peru and Uruguay means it is well positioned to support clients across Latin America.
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Euromoney Foreign Exchange Awards 2023: FX market leader best provider – best FX exchange: CME GroupCME Group operates the largest regulated marketplace for foreign exchange globally and is a leading primary venue for price discovery. The scale of the global offering, deep liquidity, transparency and choice of execution provides clients across geographies with efficient access to global markets.
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Deutsche Bank’s investment in principal resting order (PRO) technology for spot FX trades has enabled clients to earn spread while trading with the bank. PRO also enables the bank to further increase its internalization rate and hence reduce market impact for the entire client franchise.
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Capitolis works with some of the largest global financial institutions and is constantly developing new trade optimization solutions for banks and buy-side firms. Its technology helps to unlock capital constraints and enables greater access to more diversified capital and investment opportunities.
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Tradepoint’s algorithmic platform, which is used by banks for voice desk, e-trading and white-labelled order management process (OMS) flow, has continued to grow in 2023. With the introduction of new algorithms specifically for electronic execution of OMS orders, Tradepoint – under chief executive Eric Adelman – has made it easy to align execution with the print tickets visible to OMS clients.
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UBS's single-dealer platform, UBS Neo, has benefited from a full front-to-back transformation over the last four years, enabling the bank to offer clients access to consistent liquidity provisioning in foreign exchange across products and currency pairs.
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BNP Paribas has continually enhanced its e-books in spots, forwards and swaps over the last 12 to 18 months, which has allowed the business to provide greater liquidity and more competitive prices, even during the height of volatility.
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Deutsche Bank has maintained good market share across both forwards and swaps during a period of underlying currency volatility and short-term interest rate volatility.
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Singapore Exchange (SGX Group) has established a strong reputation as a leading FX exchange for the Asia-Pacific region. Good product innovation, together with regular feedback and meetings are valued by clients.
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Commerzbank has forged longstanding relationships and established bilateral credit lines with clients in frontier markets that few other banks support. This allows those clients access to international markets and competitive FX pricing that they would otherwise struggle to access.
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CobaltFX, a portfolio company of United Fintech, offers an innovative solution to a decades-long issue facing the FX industry around credit distribution. This is that the need to carve out credit limits among various venues reduces credit availability for counterparties and reduces trading volumes, while credit lines can prove costly for banks to maintain.
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Sacombank has pioneered digital transformation in Vietnam. This has facilitated strong growth in online FX activities, with the bank becoming one of the leading banks in this segment.
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360T provides a suite of technology solutions that enable corporate treasurers to enhance their FX trading operations and access liquidity from a wide range of providers from around the globe.
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360T offers market participants multiple methods of accessing and interacting with the FX market. Its electronic communication network (ECN), 360TGTX, provides access to streaming spot FX and non-deliverable forward liquidity.
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State Street Global Markets (SSGM) is a leading provider of liquidity, financing, and research solutions. Through its GlobalLink business it provides a suite of award-winning electronic foreign exchange trading platforms.
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This year, Tradefeedr launched its Algo Forecasting Suite, providing trading firms with independent analysis of the performance of trading algos from a wide number of sources that can forecast performance with the greatest accuracy.
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UBS is a powerhouse in the FX industry with a strong reputation for liquidity provision.
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Flexibility and parameterization are expected to become key differentiators for FX execution algos as the market continues to evolve. JPMorgan’s algo suite offers both in abundance.
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UBS’s extended coverage across multiple time zones and consistent liquidity provision – even during challenging market conditions – has boosted its market share particularly in emerging-market options.
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The release of its new pricing and analytics platform for FX swaps, Neo STIR Analytics, has transformed how UBS engages with clients trading in FX swaps.
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Deutsche Bank’s FX business continues to grow.