Global Pulse: FX Platforms

Measuring North American buy side satisfaction and selection criteria for EMS platforms

The Global Pulse: FX Platforms report was commissioned as a result of our buy side members expressing a strong desire to be able to benchmark and subsequently present collective feedback to providers on their demands and requirements.

This report is the second of a series of three, the first of which was published in July 2019 and captured the European viewpoint. The Asian perspective will be published later this year.

Daniel Chambers, Head of Trading at Sequoia Asset Management commented “It’s difficult to say what platform providers should be doing to better meet buy side demands as every platform is going to need to improve in different areas and every buy side firm is going to have different demands. This is why a collective response identifying the key areas is so important and I believe this report perfectly captures the buy side perspective”

It has been produced with quantitative insights from survey responses from the buy side – all key decision makers at their firms/a strong influencer in the decision-making process – which have been aggregated and analysed by The Finance Hive.

Qualitative on-the-record interviews add depth and colour to the commentary.

Key findings include:

  • The most prevalent requests for improvement from platform providers are for more value-add TCA and better integration
  • Flexibility from providers and an ability to work closely on client’s specific needs is important for true differentiation
  • Integration with OMS platforms is overwhelmingly the top priority for all shapes and sizes of buy side firms
  • Proficiency at netting is a prominent consideration when selecting a platform, but very rarely the most important criteria
  • Workflow and better access to liquidity are the most notable ways that platforms improve the way the buy side trade

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“I loved reading the Global Pulse report and found it extremely insightful. I find that it is useful for showing the voice of the buy side and cementing the word on the street”

Principle Business Analyst, Wellington Management

Interested to read the full report?

Presented by The Finance Hive, in partnership with EBS, part of CME Group
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