HSBC FX Business and new platform

Posted on March 15, 2012 by Paul Blank

A couple of weeks ago, I posted a comment here regarding HSBC’s long-awaited new single dealer platform.

Now, EuroMoneyFX News has just published a fascinating piece, which provides a glimpse into the complexity of HSBC’s Global FX business.

The article asks the obvious question which is why the platform, which was built in-house, has taken three years to build, and is still behind schedule (external ‘go-live’ was planned to coincide with Chinese New Year).

EuroMoneyFX News is subscription only, but as a teaser, here is a great quote from Frederic Boillereau (Global Head of FX at HSBC)

I am disappointed regarding the platform [delay], but we have a complex business, high aspirations and we are dealing with it

In previous interviews, Frederic has stated his aspirations to become a “top 3” global FX power house (HSBC are currently ranked #6 in EuroMoney’s rankings below)

As I said before, we look forward to seeing the external rollout.

Full story here (needs password)