The top ten posts of 2011 on

Here are the top ten posts (by number of hits) from 2011:

1. Devin Wenig, CEO of Reuters Markets Division, leaves the company

More changes at the top for Thompson Reuters. He is leaving less than a month after the appointment of Shanker Ramamurthy was joined on 20th June as President of Sales and Trading, Markets division and was for a whole month reporting to Devin. More…

2. EuroMoney FX survey 2010 results – some thoughts

EuroMoney has just released the results of the 2010 FX Survey (sorry it’s subscription based).

2010 FX Share Top 10 ranking (2009)

1. Deutsche Bank (1)
2. UBS (2)
3. Barclays Capital (3)


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Marc Andreessen’s crystal ball

The founder of Netscape, and leading Silicon Valley investor, continues his “software is eating the world” theme in an interesting and persuasive piece in CNET News about what to expect in 2012 and beyond. Worth a read.

How much longer for the Euro?

If you believe that perception is reality, then the perception that the Euro is near to/will collapse is becoming the new norm.

I see from the FT that ICAP has tested its systems to ensure they can still trade in a post-Euro world. Article here (registration required).

How long before the weight of expectations overwhelm the currency?

The secret weapons of e-commerce

Interesting article by Joel Clark in today’s FX week (password required for login):….”The secret weapons of e-commerce”

Asked by FX Week earlier this month what changes will need to be made to the single-dealer platform model to render it compliant with the likely obligations for swap execution facilities (Sefs), the head of foreign exchange at a top-tier bank described the answer as the “secret weapons programme” now under development at most banks.

Read the full article here:

UX: Exposing the value of design research

At Caplin we don’t take a single path through design research. Like magpies we pick shiny data from multiple sources creating a rich medley of material used to build a colourful picture of the customer and their needs that brings them to life.

Occasionally we still find we have to justify the value that can be gained by undertaking contextual research and customer interviews

Here is a simple example from a recent contextual study I (Head of User Experience at Caplin) undertook in South Africa:

After a hair-raising car ride to the company’s office, we settled down to business with the group corporate treasurer and got the contextual study started.

Lorries and transporters wait to unload at the distribution hub and in jostling for position in the queue they end up taking over the whole road

Halfway through the interview the subject pointed to a white board and mentioned how he used it to keep track of his orders (as the current system has no way of tracking his orders and rates) the participant didn’t see any special significance to the board as it was just the way he worked. Continue reading

More SEF stuff from Tabb, and my thoughts

Kevin McPartland, of Tabb Forum has just released his end of year research report on SEFs entitled “SEF Industry Barometer: Fall 2011″, a sort of ‘SEF stocking filler’, and bound to be a hit for those heads of trading, stuck for last-minute gifts!

Tabb surveyed over 200 market participants, many of whom were uncertain over the benefits of SEFs.

However, when asked who they believed will be successful ultimately as a SEF in each asset class, the participants named the following firms: Bloomberg, CBOE, CME Clearport , CreditEx, FXAll, ICE OTC Energy , ICAP , MarketAxess and Tradeweb.

My thoughts: Continue reading

“FIX Protocol” FPL Spain Briefing, Madrid (29th November 2011)

From the day I booked this event I was looking forward to hearing the panellist’s views and opinions; I was particularly looking forward to the session about how emerging electronic trading trends are impacting the Spanish trading community. I wasn’t disappointed. The speakers were in full swing talking about algorithmic trading practices, the evolution of high frequency trading and the implications for the Spanish investor community.

Although high-frequency trading isn’t where Caplin focuses, the five highly talented speakers Continue reading