FX ECommerce
Navigate the highly fragmented FX market
Liquidity in today’s foreign exchange (FX) market is distributed across multiple ECNs and banks. Determining which venue offers the deepest liquidity and tightest spreads for any currency is not easy. To get an accurate picture, banks must constantly access multiple venues, with different business models, to manage positions and generate competitive quotes for their clients. And we've only touched on the complexity the sell-side faces when interacting with upstream venues. Client demand is also becoming more complex, as deal flow is increasing while average deal size is decreasing. Plus, clients are demanding to trade a wider range of FX products like NDFs and Options.
In order to effectively compete for client order flow against the largest, most dominant banks, tasks such as pricing, trade execution, and hedging need to become automated - but automation alone won’t suffice. Achieving a world class e-commerce infrastructure requires rich, real-time visibility of the highly fragmented market. And it also requires the flexibility to support constant customization, eliminating the need for a large development staff to cobble together disparate elements for a best of breed approach.
Increase client order flow with FX eCommerce
The Progress FX eCommerce solution provides a bird’s eye view of the market in real-time, and performs cross-asset smart order routing straight out of the box. Additionally, sell-side banks can leverage purpose-built business tooling to quickly and easily customize the provided templates for critical, cross-asset e-commerce components such as:
- Real-time pricing
- Flexible auto hedging
- Internal order crossing
Banks can leverage the solution to build feature-rich FX eCommerce platforms to accelerate time-to-value, preserve flexibility, and increase current business and attract new clients. Powered by the market leading complex event processing (CEP) platform and backed by a rich library of industry-proven market connectivity, Progress capital markets solutions are in place at a number of firms today, including ANZ, RBC, BBVA, UniCredit, and Standard Chartered.
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