The foreign exchange (FX) space today is undergoing a rapid evolution. Thanks to growing electronification, greater investment in technology and analytics and industry-wide momentum toward multi-asset trading, it has never been more important to update, adapt and customise systems and workflows and ultimately create intellectual property for these markets – yet many market participants struggle to do so.

Most of the vendors who sell to this market do not provide adequate solutions. On one side, monolithic providers have created a fixed set of functionality and configuration, with recent consolidation only serving to further reduce diversity on offer. On the other hand, there are a handful of vendors that focus on FX , developing best of breed of a very specialised component that must fit into a larger, flexible infrastructure. Then there are the banks that choose to eschew third-party solutions entirely and build their own in-house systems, creating high costs and ongoing maintenance pressure.

These tactics represent the industry’s efforts to identify the best path forward in a shifting landscape, but in reality, there is no one-size-fits-all model. FX trading platforms should be a unique fit for each client, leveraging component-based and modular design to create flexibility, support the creation and management of IP and maximize the impact of each tool.

This article explores how Itiviti, a Broadridge Business, solves pain points in FX markets and why these challenges have become so acute in recent years.

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This article was first published in October 2021 on e-forex.net.

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Written by

Olivier Werenne, Jerome Cardon

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