e-Forex Magazine | Features | Standing out from a crowd - how are FX e-commerce services being differentiated?
Features : Standing out from a crowd - how are FX e-commerce services being differentiated?
First Published in e-Forex Magazine July 2012
Nicholas Pratt
Nicholas Pratt explores what it takes to rise to the top of FX e-commerce league tables and whether differentiation in e-FX can be more successfully achieved by delivering more client focused and less product focused products and services.
The FX e-commerce market is a crowded and competitive place, especially in the single dealer platform division. If there was a league table for the banks in this space there would be at least nine of them in the top three. This does raise the issue of how banks are able to differentiate their offerings. In theory e-commerce platforms should present the opportunity to showcase innovation and compete on the best use of technology. The concern would be that the various platforms are a simple extension of the banks traditional FX business and the majority of FX traders choose the bank rather than the platform. But given the level of investment that the top FX banks have put into their e-commerce efforts, they are of increasing importance.
