e-Commerce article in e-Forex April 2011

Back in January I blogged about the launch a survey of e-commerce practices worldwide. We (Caplin) sponsored this survey which was conducted by Lepus. With the help of Robert Smith, head of research at Lepus, I subsequently authored a feature article summarising the main findings of the research; this has now been published in the April 2011 edition of e-Forex magazine.

If you’re an e-Forex subscriber, or if you register free on the e-Forex website, you can read the full article here.

You can, of course, still obtain your own copy of the full research report by visiting this page on the Caplin website.

How the financial sector sees technology as its saviour

Here’s a snippet from a really thought provoking article by Francesco Guerra (click here for the full article from yesterday’s FT – requires subscription or free registration) .

When, a few months ago, I asked Jes Staley, head of JPMorgan Chase’s investment bank, how his industry would survive in an era of lower returns, he answered with two words: “technology” and “revolution”.

Last week, Mr Staley put his servers where his mouth was.  Speaking to a roomful of investors, he revealed that JPMorgan was midway through a five-year plan to reduce its foreign exchange trading platforms from 10 to 2 by using more efficient IT systems.

It raises a lot of questions…..firstly – is a move like this indicative of the growing trend towards single-dealer platforms, or does it represent an opportunity for SDPs?

Key SEC Proposal on Swap Trading Differs from CFTC’s


NEW YORK -(Dow Jones)- The Securities and Exchange Commission laid out a series of rule proposals for new swap trading venues Wednesday, including one that was markedly different from one put forward by the Commodity Futures Trading Commission. Click here for the full story.

e-Forex feature: Single-dealer platforms: staying ahead in the FX game

Ten years after the arrival of electronic FX, banks are continuing to invest in their single-dealer platforms which have been enjoying a resurgence of late. According to Paul Caplin, chief executive of Caplin Systems, a provider of e-commerce technology for use in single-dealer platforms, there are numerous factors driving clients to single-dealer FX platforms.

Nicholas Pratt examines why the value proposition of these single-dealer platforms continues to strengthen for many trading firms and FX buy-side participants.

e-Forex users, click here for the full article. For a free trial to e-Forex, click here.

Key move over OTC swaps trading (Financial Times)

A key area of contention surrounding SEFs is the issue of request for quote systems, which are used by customers who seek to buy or sell a swap price with specific dealers or via platforms such as Tradeweb.

Under the CFTC’s proposed rules, RFQs are required to be sent to at least five other market participants which in effect breaks the single-dealer platform model that has existed for many years. Click here for the full story.

HP launches iPad competitor for corporates

Called the Slate 500, running Windows 7. See it in action.

Not convinced.

World’s largest tech firm drops Java

After initiating the slow death of Flash by banning it permanently from all  iThings, Steve Jobs has now set his sights on Java.

Apple has casually mentioned in a release note that Java is now deprecated on the Mac. And because Continue reading

Ballmer, CEO @Microsoft: “The world is going the HTML5 path, and so are we.”

From Gartner Symposium; tweeted by @Gartner_inc at 16:33 BST today. View original Tweet.

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)
4. Citi (5)
5. RBS (4)
6. JPMorgan (6)
7. HSBC (7)
8. Credit Suisse (9)
9. Goldman Sachs (8)
10. Morgan Stanley (11)

The top 10 has almost remained the same, with one new entry (and some slight shuffling of the deckchairs) and for the 6th year running, the mighty Deutsche Bank tops the poll – which is an amazing record! I touched on the factors that separate the top players in an earlier post here

Continue reading

Separating the men from the boys in global FX

It’s interesting to see recent blog comment regarding Morgan Stanley’s new Matrix platform, and what else is needed (in terms of full range of products) to enable them become a top five global FX house.

In my opinion, it’s naïve to assume that a shiny new User Experience (UX) and a more complete product set is what separates the men from the boys in FX.

Deutsche, UBS and BarCap have risen to dominate the global FX business due to three key factors:

Continue reading