Features : Standing out from a crowd - how are FX e-commerce services being
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.
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