Although almost 50% of global foreign exchange institutions still say they have no intention of trading online, growth within the ranks of eFX market participants was enough to double electronic trading volumes to $8 trillion in 2003, according to a survey by Greenwich Associates. Electronic foreign exchange boomed last year as new institutions logged on and past converts shifted large portions of their business online, said the report. This growth — which Greenwich attributes to institutions that experimented with e-trading in past years shifting big volumes online in 2003 — is supporting an unexpectedly robust host of eFX service providers. ‘People have consistently predicted consolidation among electronic service providers,’ noted Greenwich Associates consultant Tim Sangston, ‘but instead we’ve seen exactly the opposite — the entry of new firms, each attacking the market at different levels.’ However, the research found that proliferation and growth are taking place in only one-half of the global FX market, as eFX service providers have made little headway among a hard-core block of e-trading holdouts.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more