Single-dealer platforms: No longer the realm of innovators & early adopters

Posted on May 21, 2013 by Jennifer Reid

In 2010 I wrote Why are people building single-dealer platforms anyway? because I had to. In the technology adoption lifecycle, single-dealer platforms were still pretty much the realm of the innovators and early adopters and as a technology firm, we felt we were still slowly wading across the chasm.

SDP vs MDP volumes in 2009

SDP vs MDP volumes in 2009

At the time, the phrase “single-dealer platform” needed a lot of explanation, and while single-dealer platforms (SDPs) already accounted for 25% of all electronic FX volume back in 2010, the business benefits were something of a revelation to all but (more…)

Filed under: Jennifer Reid, Single-Dealer Platforms | Leave a Comment »

BNP Paribas: New corporate FX Platform ‘Centric’

Posted on May 20, 2013 by Paul Blank

BNP Paribas has released their new corporate FX platform called Centric.

According to the website:

CENTRIC is a seamless multi-product application based platform, configured not only to optimise efficiency, but help corporate treasurers do business. CENTRIC is a new way to put your organisation’s cash to use – going beyond managing risk and optimising liquidity, and helping you to make your underlying business stronger.

Whether you’re looking for the latest research and market commentaries, cash management services, trade finance products or wanting to execute FX trades and payments. CENTRIC has been designed to offer you increased choice and control of all your treasury business operations from the convenience of a single platform.

The platform comes after the launch of their Cortex platform last year. (more…)

Filed under: FX, Paul Blank, Single-Dealer Platforms, User Experience (UX) | Leave a Comment »

Visit Caplin at the FIX Protocol APAC Trading Summit in HK

Posted on May 18, 2013 by randyhebert

Caplin will be a sponsor at the FIX Protocol Asia Pacific Trading Summit in Hong Kong on May 23, taking place at the JW Marriott hotel.

We invite conference participants to visit us at our booth and look forward to seeing you there!

Filed under: AsiaPac, FX, HTML5, Randy Hebert, Single-Dealer Platforms, Web trading technology | Leave a Comment »

The Evolution of Executing Futures – Part 2

Posted on April 22, 2013 by Daniel Owen

Part 1 looked at the history of executing futures leading up to the beginning of this century. This part will have a look at some of the technologies that were introduced during my time on the trading floor over the last decade, as well as some advancements that have been presented since I joined Caplin.

Auto Spreaders

As a spread trader, I was required to enter long and short positions on two or more contracts at the same time. The ‘hedged’ positions alleviate the risks of outright positions and allow one to take views on the widening direction of the spread between two or more markets without necessarily having a view on their underlying direction.

(more…)

Filed under: Single-Dealer Platforms, Technology Trends, Web trading technology | Tagged: , , , | Leave a Comment »

JPMorgan Electronic Trading Committee

Posted on April 21, 2013 by Paul Blank

JP Morgan has recently established a new cross asset class electronic trading management committee (ETMC).

According to an article in Advanced Trading:

The purpose of the ETMC is to share best practices in electronic and algorithmic trading across asset classes and to serve as a decision-making body for the CIB’s electronic trading investments and resources, according to the bank. (more…)

Filed under: FX, Paul Blank, Single-Dealer Platforms | 1 Comment »

MarketPrism view on SDPs

Posted on April 19, 2013 by Paul Blank

Over on Tabb Forum, Tanuja Ranery, CEO of MarketPrizm discusses FX platform innovation, and Single Dealer Platforms.

Her comments certainly align with Caplin’s view that banks with their deep understanding of client workflow and risk management needs are continuing to innovate to deliver highly relevant targeted SDP solutions to clients covering the full trade life-cycle of pre-trade, trade and post trade services.

Tanuja comments that:

… Among the most prominent innovations in recent months has been a rise in single-dealer platforms (SDPs), which provide greater speed and reliability of trade execution. SDP clients are benefiting from improved analytics, research, superior post-trade processing capabilities, and straight-through processing (STP) solutions offered by the banks.(Caplin posts on SDP innovation here , here  and many more) (more…)

Filed under: FX, Paul Blank, Single-Dealer Platforms | 1 Comment »

Can research drive execution? Prove it.

Posted on April 15, 2013 by Paul Blank

Ask the head of research at any major bank, and they will tell you that their insightful research is a core competence for the bank, and a reflection of their deep understanding of the markets, and a key differentiator and source of added value to clients, and leads to greater execution flows.

But, is that true, and just how can banks metricate the value of research in terms of leading to greater execution, and making their Single-Dealer Platform stickier?

The cost of research used to be ‘bundled’ into the ‘all in’ execution rate for institutional clients, who in return for top quality research, would execute trades through that bank. That’s all changed now, and in order to make more transparent the cost of research from the cost of execution, firms have unbundled the ‘soft dollar‘ costs of research in order to remove potential for conflicts of interest in terms of how and where buy side firms execute trades and their requirement for ‘best execution’, research has now become a major cost centre for banks. (more…)

Filed under: Paul Blank, Single-Dealer Platforms, User Experience (UX), Web trading technology | 1 Comment »

Dim Sum anyone? – The internationalization of China’s RMB

Posted on April 9, 2013 by randyhebert

China has transformed itself into one the world’s largest economies, second only to the U.S.   The development of China’s economy over the past decade and increased global trade have been the main drivers to RMB globalization.  The Renminbi (RMB) is the official currency of China.  Although RMB traded in the spot onshore market and offshore in Hong Kong are the same currency, it has different exchange rates due to different supply and demand conditions.  Separate currency codes have emerged to represent onshore and offshore RMB.  CNY is used to represent onshore RMB within China while CNH is used to represent offshore trading in Hong Kong. (more…)

Filed under: AsiaPac, FX, News, Randy Hebert, Single-Dealer Platforms, Web trading technology | Tagged: , , | 1 Comment »

Fixed Income trading in Asia on Single Dealer Platforms on the rise

Posted on March 25, 2013 by Paul Blank

Asian Investor has an interesting article regarding the rise of fixed income trading on SDPs.

Although Bloomberg is still the dominant FI platform in the region (trading up to 70% of volumes), Asian Investors are starting to migrate flows to Single-Dealer Platforms for US Treasuries and Sovereign bonds.

According to Gavin Ottery, head of fixed income e-commerce sales at UBS in Hong Kong.

Hundreds of clients in Asia-Pacific have migrated from voice to electronic for both regional and global cash products, and electronic fixed income trading volumes in the region continue to increase year-on-year, with 2012 being a record year. (more…)

Filed under: Dodd Frank, MDP, OTC, Paul Blank, Single-Dealer Platforms | 1 Comment »

ACI Singapore

Posted on March 20, 2013 by Scott McLeod

ACI Singapore

Our man in Singapore, Randy Hebert, and I were among the 700 or so delegates that attended the 52nd ACI World Congress which was held in the Marina Bay Sands Conference Centre, Singapore from March 14-16.

Much has changed since the ACI World Congress was last held in Singapore in 2001, when Singapore also had the unique privilege of hosting the first World Congress of the new millennia, in particular the growth and increased significance of Asia to the World economy. It is now estimated that Asia, and especially the People’s Republic of China accounts for over 60% of global growth.

Caplin clients at the ACI event included Standard Bank and Citi Velocity. Caplin Trader was featured at the Progress Apama booth giving delegates the opportunity to see a complete e-commerce solution with Apama providing aggregation & rate management with Caplin Trader for client distribution.

The conference featured presentations on topics such as the future of banking in Asia, financial regulation, and the impact of China and the rest of Asia on the financial markets.  (more…)

Filed under: Regulation, Rich Internet Applications, Scott McLeod, Single-Dealer Platforms, Web trading technology | Leave a Comment »

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