19 May 2011
As the level of debts bundled and sold as a job lot declines, so corporates seeking to raise capital may end up paying a significant premium as they are forced to engage in borrowing that is ultimately less risky, but at the same time less profitable for the banks. Baringa’s David FitzGerald asks whether Basel III spells the end for the securitisation market.
19 May 2011
Chris Bozek, Global Trade and Supply Chain Product Head and Maureen Sullivan, North American Trade Sales Head, Global Trade & Supply Chain Solutions, Bank of America Merrill Lynch talk to Eleanor Hill, Editor, FX-MM about the inexorable rise of supply chain financing programmes as well as the lessons learned by buyers and suppliers from the recent economic turmoil.
19 May 2011
When the financial crisis reduced the availability of credit, corporates had a new reason to optimise internal cash flows in order to minimise the need for external financing. With buyers and suppliers both looking to manage working capital more effectively, this was the trigger for supply chain finance to undergo the transformation from a theoretical nice-to-have to a solution with real, practical applications. As activity in this space increases, the range of solutions on offer has continued to evolve – so what developments are just around the corner? Rebecca Brace reports.
19 May 2011
In turbulent times, diversity is the key to optimum supply chain management. Dominic Broom, Managing Director and Head of Market Development, BNY Mellon Treasury Services EMEA, discusses why the world needs to recognise that considering and planning for just-in-case scenarios is equally important as just-in-time management of successful supply chains.
19 May 2011
More and more corporates are benefiting from the broadening scope and enhanced effectiveness of financial supply chain management, says Alexander Mutter at Deutsche Bank’s Global Transaction Banking.
Financial supply chain (FSC) solutions are no longer considered an optional extra. They have matured to become an integral part of a corporate’s broader cash and trade management strategy. Indeed, such is the scope and sophistication of this integrated approach to commercial and financial risks, adoptive corporates are benefiting from enhanced cash flows, supplier stability and overall business sustainability – placing FSC solutions at the beating heart of the corporate finance machine.
19 May 2011
Credit ratings, political opinion and civil disputes, Dean Peters-Wright analyses what the European issues, the negative outlook on the US economy and the continued unrest in the Middle East and North Africa has on the economy, business and currencies.
19 May 2011
Regulators are laying down new rules for the capital requirements for liquidity and solvency risk. Frances Maguire asks if banks will go beyond compliance and start using stress tests to detect and proactively manage their risk of insolvency, whilst also taking the opportunity to rethink their whole risk infrastructure.
19 May 2011
Are you getting what you need from your FX bank? Is your dedicated salesperson delivering the level of value that you expect? How important is price in your choice of trading venue, or does a good relationship dominate such decisions? FX-MM looks at the changing face of FX relationships today.
19 May 2011
As the FX industry stands at a regulatory crossroads, we talk to Kenneth Steengaard, Head of FX, MM and Commodities Trading at Nordea Markets, about the future path of bank/customer relationships in an increasingly electronic environment. Is it really all change or simply a question of building on solid foundations?
With an eye on the future of trading and post-trade models, what do you see as the core services that customers do – and will – require from their FX banks?
If we start by looking at the regulatory backdrop for FX, it is clear that the ambition of forthcoming regulation is inspired by the world of exchange traded products. One of the fundamental characteristics of exchange trading is that investors operate with one price on a given asset at a certain point in time. I am a firm believer that this will not be the case in FX, at least for the foreseeable future, where dispersed liquidity pools still will be the name of the game.
19 May 2011
FX-MM talks to Richard de Roos, Director & Head of Foreign Exchange, Global Markets, Standard Bank, about the role of single-dealer platforms in enhancing FX relationships. We also examine the need for multi-dealer platforms and ask whether there is more to an FX relationship today than the depth of a bank’s technology offering.
To what extent are single-dealer platforms threatened by multi-dealer platforms and how has the SDP/MDP dynamic changed in recent years?
In the days before multi-dealer platforms were commonplace, the foreign exchange market was far less transparent than it is today. Over the last decade, the FX market has become broader in terms of participants and more sophisticated vis-à-vis the traditional corporate market. In addition, as investors have entered the market, these participants have become more demanding – and rightly so – around issues such as price transparency.
19 May 2011
Foreign exchange trading continues to increase in popularity, both amongst retail and institutional investors, and demand for improved trading platforms and trading services is higher than ever before. Brendan Callan, President, FXCM Europe asks whether the rise of No Dealing Desk trading will help to shed the ‘Wild West’ image of retail FX.
While most private investors currently trade FX via a spread betting or CFD provider, as the lines between retail and institutional trading blur and traders become increasingly savvy, will the classic spread betting offering be enough for the man on the street?
19 May 2011
There are several technology providers that offer white label solutions for the FX industry, such as MetaQuotes, Integral, Saxo Bank, Currenex and Dukascopy Bank, but which solution will be the market leader over the next 3-5 years? Will MT4 still be popular, what about MT5? Will Dukascopy Bank overtake it?
Retail forex brokerage is an attractive business activity and one that can generate significant revenue for banks and brokers alike. Today, many more banks and institutions are moving into this area of the FX market, despite high barriers to entry such as regulation, technology, and minimum capital requirements. So what is driving this shift?
19 May 2011
Or should that be Brics by Brics? In December 2010, South Africa was formally invited to join Brazil, Russia, India and China – otherwise known as the Bric nations – as the newest member of the emerging market economies grouping. FX-MM asks whether the country is now punching above its weight.
Africa’s largest economy and China’s biggest trading partner, over the last decade South Africa has firmly put itself on the map as ‘one to watch’ going forward. But does this necessarily mean that South Africa is a match for the likes of China and does the country merit true emerging economy status?
19 May 2011
Fair Trading Technology’s T3 Execution Bridge – the world’s first fully transparent trading platform – has made quite a debut since its public launch last year. FX-MM speaks to McLean Van Cleve, Chief Systems Engineer, Fair Trading Technology about the drivers behind the T3 build, as well as the company’s future plans, mission and vision.
Founded by a group of traders, forex investors and IT professionals, Fair Trading Technology (FTT) is a provider of transparent trading platforms and the first company to deliver a totally transparent MetaTrader to true ECN trading bridge with two-way execution. But where did the solution originate from and what has been the secret of the company’s success?
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