Innovation is bringing transparency and diversity to the FX market.

Author: Gilly Wright

Back To Supplement

 


Section: Banks & Brokers | Technology Vendors & Infrastructure Providers
 


THE INNOVATORS – BANKS AND BROKERS

Firm

Solution

Category

What makes it innovative

AGEA

WebTrader

Process innovation

A responsive Web browser trading application that dynamically changes user interface according to the device the user is accessing it from. WebTrader currently allows forex, commodity and index trading with alerts from a market events calendar, integrated chat with online traders and multilingual live support. WebTrader is available in nine languages and accessible from any device.

Alfa Bank

Alfa Forex Split- Value Conversion

Marketing innovation

FX conversion with a deferred payment option through the use of its unique trading information and settlement platform, Alfa Forex. The cus- tomer can buy or sell foreign currency on a cashless basis with deferred payment. Customers can receive funds on the deal today, with their obligations to the bank discharged in one or two business days.

Attijariwafa Bank

Renminbi Settlements/ Payments

Process, market- ing and organiza- tional innovation

Previously, most client transactions with Chinese suppliers were settled in US dollars rather than African currencies. Attijariwafa Bank and the Bank of China will provide strong support with competitive FX rates and tailor-made solutions on the remninbi quoted against African currencies. Clients can benefit from both cost reduction and FX risk mitigation.

BLOM Bank

Recent integra- tion of all its FX, capital markets, commodities and securities dealing under one roof

Organizational innovation

Creating synergies in the cross-selling of services to clients and at the same time facilitating better service levels. New intermediaries and exist- ing relations have been renegotiated to maintain a competitive edge. At the internal organizational level, staff expertise has been exchanged and knowledge levels upgraded.

BNP Paribas

Centric

Product innovation

A corporate FX platform rolled out across 10 countries in Asia-Pacific and the Middle East, and in North and South America. It is currently being rolled out in Europe. Centric delivers a range of newly-created applica- tions and services to corporate treasurers in more than 30 countries.

Commercial International Bank

FX desk

Organizational Innovation

Restructuring of the bank’s FX desk into distinct customer segments such as corporate banking, global customer relations and business banking. Traders are responsible for following up and executing deals with their respective assigned officers and/or clients. Elevated service levels are further facilitated by the ability to provide ready-made offers for available FX-structured products to clients.

Deutsche Bank

Autobahn OTC Structures

Product/process innovation

A fully electronic platform for pricing and dealing in structured deriva- tives in currencies and precious metals. The platform provides transpar- ent competitive pricing and fully-customizable deal details giving clients total control over pricing. A self-service and intuitive user interface allows for easy deal variations, multiple repricings. with dealable prices returned by the system in near real-time.

Dukascopy Bank

Dukascopy Connect and Dukascopy Payments

Product/process innovation

Dukascopy Payments is an independent platform for transferring money online using Dukascopy’s Connect mobile communication service. Connect users are able to attach money to any message and to send it to another person across the globe. The phone number of a beneficiary becomes a key payment attribute. The new service allows users to top up an eWallet account from credit cards, and to make money transfers from an eWallet to any bank account. Dukascopy Payments also offers favorable currency exchange rates. Accounts can be opened electroni- cally and instantly on the basis of remote client identification (via the provision of ‘selfies’ with ID).

ICAP

Everything EBS

Product/process innovation

The integrated trading platform amalgamates EBS ‘microstructures’ with advanced trading algorithms and integrated visual analytics. Features include: aggregated views of multiple liquidity sources and types with attribution; diverse product support, including spot, precious metals, NDFs, outrights, swaps; enhanced pricing views; market depth; cus- tomized trading views and multiple displays to accommodate trader workflow.

mBank

Digital Treasury

Product/process innovation

Improved offer and software for SMEs and corporates, particularly in for- eign exchange, including simplification of pre-sales, sales and after-sales processes. The FX platform enables small and medium-sized custom-
ers to monitor exchange rates for selected currency pairs and conclude transactions in the same way as large corporates and financial institu- tions. SMEs, corporates and bank clients of mBank can place limit orders for buying or selling currencies at rates different from the market rate reported. All clients can configure notifications about offers executed or expired.

Saxo Bank

SaxoTraderGO

Product innovation

SaxoTraderGO offers retail clients access to the bank’s entire product suite; more than 30,000 different instruments across FX, stock options and futures, as well as a powerful new HTML5 chart. The platform is fully aligned across desktop, mobile and tablet devices.

Firm

Solution

Category

What makes it innovative

Barracuda FX

Order Hub

Product innovation

Order Hub enables a bank to electronically pass orders from a single destination to any counterparty regardless of whether the receiving bank uses Barracuda software. The technology is built on a service-oriented architecture and includes a choice of user interfaces. It can be hosted internally or externally via Software as a Service (SaaS).

City Index

Mobile Trading Widget

Product/process innovation

A real-time, mobile trading widget, which aligns trading activity with the diary function on smartphones.

Coinsetter and Shift Forex

Bitbroker

Product/process innovation

A new bitcoin liquidity and market data service for foreign exchange brokers. Bitbroker enables forex brokers to add Bitcoin as a trading option within existing margin FX infrastructures.

Digital Reasoning

Synthesys

Product innovation

By semantically analyzing all electronic communications in order to understand who is talking to whom, and what about, Digital Reasoning helps banks to identify potential collusion and manipulation of FX markets in order to avoid the next regulatory and/or reputational crisis.

Fortex

Fortex MT4

Web Trader

Product innovation

Fortex MT4 Web Trader’s responsive HTML5 design allows easy access to a client’s MT4 account without the need to install any software. Users can view and trade from their account anywhere, anytime, using any browser.

FXCM

FXCM Trading Station

Process innovation

The station features real volume indicators, which provides traders with critical market data directly, as well as the ability to analyze market behavior and trading psychology by displaying what the crowd is doing.

Gold-i

Gold-i Bridge

Process innovation

An intelligent tool available within the Gold-i Bridge dynamically limits the number of price updates to the broker’s MT4 server, thereby minimizing price feed latency. It was developed in-house by Gold-i in the UK to enhance execution and server performance for MT4 brokers using aggregated feeds.

Kantox

Dynamic Hedging

Product innovation

Dynamic Hedging fully automates FX hedging strategies. Users just need to set up rules and then Dynamic Hedging executes the strategy.

Leverate

BX8

Product innovation

A retooled version of a binary options platform featuring gamification tools, including popular trading games, clear payout displays and instant and scheduled expiry time frames.

Lucera

Lucera Connect

Product innovation

Lucera Connect is a software-defined network with no bandwidth restrictions.

MahiFX

MFX Compass

Product Innovation

Helps smaller banks and brokers break through high entry barriers to compete at a level that was previously inaccessible to them. MFX Compass also offers a highly advanced risk management system for protecting against market volatility.

OANDA

OANDA API Suite

Product innovation

Enhancements include a fully functional sample trading app, additional code samples, new application programming interfaces for the broker’s proprietary fxLabs tools, an OANDA-MetaTrader 4 API, and several new partner integrations for retail forex traders, developers, and partners.

Portware FX

Portware Enterprise

Product innovation

A fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. It automates the selection of optimal trading strategies in real-time.

Quotix

Quotix Insight

Product innovation

Software that utilizes intelligent algorithms to manage the market risk of retail FX brokers. Quotix Insight allows clients to make automated book decisions in real-time that mitigate risk whilst increasing revenues.

R3 Analytics

Risk management upgrade

Product/process innovation

An updated and enhanced Cloud-based offering for brokers. It offers forex brokers customizable optimization strategies and risk-management tools, deep analytical insights into trading accounts, and easy access to business and sales intelligence aggregated from brokers’ trade servers.

SETL

Digital Ledger: Blockchain-based system for FX transactions

Process innovation

The SETL system enables market participants to move cash and assets directly between one another, facilitating immediate and final settlement of transactions. The SETL blockchain is designed so that the identity of participants can be requested to ensure trust in the system.

Thomson Reuters

FX Trading

Product innovation

FX Trading offers the full value of Thomson Reuters’ entire FX portfolio, including FX dealing, matching, electronic trading and post-trade
capabilities in a single platform.

USForex

Forex Money Transfer

Process innovation

Forex Money Transfer enables consumers on the go to send money in 48 currencies to friends, family and merchants around the world via their tablet or smartphone.

ZuluTrade

Introduction of social trading on binary options

Process Innovation

Social trading on binary options enables customers to copy the top-performing binary options traders on this peer-to-peer FX platform.

Comments

No comments yet

Add a Comment

You must be a registered user with Global Finance Magazine to comment.

Forgot Password?