NEW YORK and LONDON, July 24,
2014 /PRNewswire/ -- Access and transparency are the big
trends to watch in foreign exchange with the July edition of
e-Forex magazine (www.e-forex.net) featuring progressive Swiss
banker Alain Broyon, the outlook for the financial Cloud, and
latest observations by Editor-in-Chief Charles Jago.
"We have looked at suggestions for reducing the potential
reputational damage to FX by the disruptive high frequency trading
behavior of some market participants. In the same way that drivers
who are caught speeding are held responsible for their actions, as
opposed to the cars they drive, the focus needs to be on
eradicating disruptive trading behavior and the intent behind it,
rather than the technology, writes Jago in his editor's letter.
Most observers see the Cloud as contributing to greater access
to markets and liquidity. In an article by Dan
Barnes titled, FX traders see sunshine through the
Cloud, Jubin Pejman, managing director of FCM360 explains
that while security worries are fading, "No public cloud is secure.
"Rackspace, Softlayer and IBM - have huge market share, but don't
have what you need in financial services…. Our Cloud is private, no
one else has access, and we don't commingle data…." FCM360
(www.fcm360.com) is a worldwide provider of trading system hosting
and connectivity.
Pejman added, "FCM360 defines its Cloud as a collection of
different data centers around the world with different types of
connectivity and computing options -- a defined set of components
that you can select to provide a solution."
In the highly distributed and fluid foreign exchange markets, a
highly distributed technology model carries obvious advantages.
Nevertheless placing such important assets in the hands of a third
party has not always been a comfortable choice for FX trading
firms. This is rapidly changing according to authorities quoted in
the article.
When it comes to transparency, Dukascopy Bank
(www.dukascopy.com) sheds light on the dark
arts for investors of all size and stripe. From the July
edition: "Dukascopy may be a Swiss bank but its approach to its
foreign exchange brokerage business is anything but conservative.
The Geneva-based company began
life in 1998 as a software project launched by a physicist, Dr.
Andre Duka. This meant that
technology was part of the firm's DNA."
Alain Broyon, Dukascopy CEO, tells e-Forex readers, "We have
developed a unique trading environment. All clients see the same
data feed [and] they see the same price. Whether you have deposited
one thousand or one million, you are in the same trading
environment and you have the same right to consume the liquidity or
to provide it in this market. This … is one thing that makes us
different."
Broyon adds, "We have aggregated the liquidity of the top 25-30
banks in the world, meaning that we are now one of the biggest
aggregators of liquidity. We give this to clients on an equal
footing. Clients pay a small commission and the bigger the client
the less they pay and this is fully transparent and totally open.
This is quite different from the other ECNs."
e-Forex Magazine is published quarterly in London and is available in Flash at:
http://content.yudu.com/Library/A2wh36/EForexJuly2014/resources/index.htm?referrerUrl=
For further information contact:
Editor Charles Jago,
charles@aspmedialtd.com
, +44 1736 74 11 44 or
Dick Pirozzolo
at: dick@pirozzolo.com or +1 617-959-4613
SOURCE e-Forex Magazine