Automation, “algo trading” and a tighter regulatory environment are driving change in the industry

 

Author: Gordon Platt

GLOBAL WINNERS Continued...

Best Global Foreign Exchange Bank

UBS

UBS has climbed to the top of the FX world thanks to its high level of customer support and innovative trading technology. The Swiss bank’s best-in-class UBS Neo FX platform is efficient and easily customized for clients. Satisfied customers are handing UBS significant market share gains. The bank tied for first place for global FX trading quality and market share in Greenwich Associates’ 2016 survey, which was based on interviews with nearly 3,000 corporate and financial users of foreign exchange services around the world. With offices in 54 countries, UBS has global reach and expertise in FX derivatives. The bank has fine-tuned its business model for the post-crisis market environment and is firing on all cylinders. For the third quarter of 2016, UBS reported an adjusted profit before tax of $1.3 billion, an increase of 33% year-over-year.

Best Provider of e-FX Solutions

360T

As an independent technology solution provider for the FX trading community, 360T offers a platform that connects corporate treasurers with more than 200 liquidity providers and generates $75 billion in average daily trading volume. The multi-asset trading platform for over-the-counter financial instruments is the center of competence of Deutsche Börse Group’s global FX strategy and is regulated by the German financial authority. Operated in a software-as-service setup, the 360T network is used by more than 1,600 client organizations worldwide and includes an integrated workflow solution that speeds up processes, adds automation and helps to reduce market risk. Combined with a data warehouse, 360T enables the user to define and implement a best execution policy.

Best Liquidity Provider

Thomson Reuters

More than 5,000 organizations, including corporations, asset managers, banks and hedge funds use Thomson Reuters’ FX platforms to trade more than $350 billion on an average day. Prices are sourced directly from the market, with more than 2,000 interbank and broker sources—the largest number of contributors of any market data vendor. Thomson Reuters added FXall QuickTrade capability to its Eikon solution to give corporate treasurers direct access to liquidity and straight-through processing capabilities. The Thomson Reuters swap execution facility (SEF) helps clients to meet regulatory requirements for trading FX derivatives under the Dodd-Frank Act. The Thomson Reuters FXTrading solution provides a single point of access to the industry’s largest collective pool of FX liquidity.

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