Tag Archives: Euromoney

Some Businesses Take a Really Long Time to Build, FX isn’t One of Them

Recently, Euromoney Magazine published its annual FX Survey 2012. Whether or not you like the survey and trust its findings, at least there is entertainment value in the media coverage that discusses the results. A very entertaining article in the Wall Street Journal provided insights into the great lengths that several participants went to drum up support for their institutions. But there are statements from some of the protagonists that make me smile. Here are two examples:

“Instant results are difficult to achieve in foreign exchange.” (…) Coming in, you need to invest for three to five years before you see results on the scale that the top handful of banks have been [having].”

It’s a matter of perspective but I disagree. There might be some businesses that require multi-year investments before delivering results but FX is not one of them. I can think of a few wineries in Napa Valley where new crop has to mature for years before delivering world class product. Virgin America, on the other hand, launched an entire airline in three years. They achieved this by leveraging a variety of third party service providers to assemble their final product in record time. Likewise, launching your FX business need not require multiple years of investment to deliver a world-class FX product to the market. It can be as simple as setting up a network connection to Integral. You can be up and running in weeks. More complex deployments on FX Grid® might require several weeks or a few months but nothing in the neighborhood of three to five years. That’s just wrong. If you’re in the middle of such a project, consider cutting your losses and give us a call now. Continue reading Some Businesses Take a Really Long Time to Build, FX isn’t One of Them

A Retort on Euromoney’s “Have Reuters And EBS Lost Control Of FX?”

There is an interesting article in the November 2009 issue of Euromoney titled ‘Have Reuters and EBS lost control of FX?’ It’s a good read that tries to assess the punch that the two interdealer brokers still carry with respect to overall price discovery in foreign exchange. Euromoney then attempts to answer the question where the market is going to be tomorrow, now that it obviously is no longer with Reuters and EBS. I think this is the wrong question to ask. Continue reading A Retort on Euromoney’s “Have Reuters And EBS Lost Control Of FX?”