e-Forex-Nov-23
CitiVELOCITY REAL TIME INTERACTIVE TCA • Drive in-flight decision making based on real time insight • Full execution breakdown • Performance against key benchmarks • Fully customisable view • Access full post-trade TCA report STILL INNOVATING Contact your FX esalesperson to learn more 100+ PLATFORM AWARDS 12 PATENTS © 2023 Citigroup Global Markets Inc. Member SIPC. All rights reserved. Citi Velocity, Citi Velocity & Arrow Design, Citi, Citi with Arc Design, Citigroup and CitiFX are service marks of Citigroup Inc. or its subsidiaries and are used and/or registered throughout the world. This product is offered through Citibank, N.A. which is authorised and regulated by the Financial Conduct Authority. Registered Office: Canada Square, Canary Wharf, London E14 5LB. FCA Registration number 124704. VAT Identification Number GB 429 625 629. Citi Velocity is protected by design and utility patents in the United States (9778821, 9477385, 8984439, D780,194, D780,194, D806,739) and Singapore (30201501598T, 11201505904S), and design registrations in the EU (0027845156-0001/0002, 002759266-0001). 2 NOVEMBER 2023 e-FOREX
Welcome to e-FOREX transforming global foreign exchange markets November 2023 Our regional e-FX perspective report in this edition focuses on the MENA region where the electronification of FX continues at pace along with growing demand for increasingly sophisticated fintech amongst financial market participants. A mixture of progressive regulatory environments and policies which have relaxed restrictions on foreign ownership of assets are attracting more foreign investors. Although electronic markets are firmly established in larger Middle East economies, in some regions e-trading is still relatively new so there remains enormous growth potential and opportunities for e-FX over the next few years which we will be following closely. Susan Rennie Susan.rennie@sjbmedia.net Managing Editor Charles Jago charles.jago@e-forex.net Editor (FX & Derivatives) Charles Harris Charles.harris@sjbmedia.net Advertising Manager Ben Ezra Ben.ezra@sjbmedia.net Retail FX Consultant Michael Best Michael.best@sjbmedia.net Subscriptions Manager David Fielder David.fielder@sjbmedia.net Digital Events Ingrid Weel mail@ingridweel.com Photography Tim Hendy tim@thstudio.co.uk Web Manager This month our trading operations feature is exploring FX analytics and why data and analytics now go hand in hand in helping to constantly reshape the execution process, making it clearer and more transparent. Demand is growing for high quality, independent data and with the link between post-trade data and pre-trade analytics for decision-making so important, it’s easy to understand the efforts that are underway to move data from a post-trade environment to a pre-trade one. The arrival of AI and ML are also likely to shake up and improve the task of execution analysis but their ultimate success in doing this is likely to depend, once again, on the quality of the data that is available to them. Building an ultra-low latency FX trading infrastructure is not an easy thing to do and as we discover in our traders workshop feature in this edition it is only half the battle for trading firms where the real challenge lies in maintaining speed in the face of multiple potential sources of delay. With that in mind we explore some of the specific factors that can impact latency and how use can be made of a number of analytical toolsets that can help firms monitor the state of their trading infrastructures. The takeaway lesson seems to be that enabling ultra-low latency trading is an ongoing process and if you decide to work with a third party provider to help you do it choose one that really understands the intricacies of this type of unforgiving trading operation. SJB Media International Ltd Suite 153, 3 Edgar Buildings, George Street, Bath, BA1 2FJ United Kingdom Tel: +44 (0) 1736 74 01 30 (Switchboard) Tel: +44 (0) 1736 74 11 44 (e-Forex editorial & sales) Fax: +44 (0)1208 82 18 03 Design and Origination: Matt Sanwell, DesignUNLTD www.designunltd.co.uk Printed by Headland Printers e-Forex (ISSN 1472-3875) is published monthly www.e-forex.net Membership enquiries Access to the e-Forex website is free to all registered members. More information about how to register can be found at www.e-forex.net To order hard copies of the publication or for more information about membership please call our subscription department. Members hotline: +44 (0)1736 74 01 30 Although every effort has been made to ensure the accuracy of the information contained in this publication the publishers can accept no liabilities for inaccuracies that may appear. The views expressed in this publication are not necessarily those of the publisher. Please note, the publishers do not endorse or recommend any specific website featured in this magazine. Readers are advised to check carefully that any website offering a specific FX trading product and service complies with all required regulatory conditions and obligations. The entire contents of e-Forex are protected by copyright and all rights are reserved. Finally, we have now launched our new Institutional Digital Assets newsletter IDAssets at: www.idassets.net As usual I hope you enjoy reading this edition of the magazine. Charles Jago, Editor NOVEMBER 2023 e-FOREX 3
- Page 1: transforming global foreign exchang
- Page 5 and 6: Turning Payment Flows into Revenue
- Page 7 and 8: Institutional EMBARK POWERFUL LIQUI
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- Page 11 and 12: Evolving with the Market Added Func
- Page 13 and 14: Accelerate time-to-trade with LPs &
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- Page 21 and 22: TRADING OPERATIONS market risk back
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- Page 31 and 32: TRADING OPERATIONS robust, standard
- Page 33 and 34: REGIONAL E-FX PERSPECTIVE The MENA
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CitiVELOCITY<br />
REAL TIME<br />
INTERACTIVE TCA<br />
• Drive in-flight decision making based on real time insight<br />
• Full execution breakdown<br />
• Performance against key benchmarks<br />
• Fully customisable view<br />
• Access full post-trade TCA report<br />
STILL INNOVATING<br />
Contact your FX esalesperson to learn more<br />
100+<br />
PLATFORM<br />
AWARDS<br />
12<br />
PATENTS<br />
© 20<strong>23</strong> Citigroup Global Markets Inc. Member SIPC. All rights reserved. Citi Velocity, Citi Velocity & Arrow Design, Citi, Citi with Arc Design, Citigroup and CitiFX are<br />
service marks of Citigroup Inc. or its subsidiaries and are used and/or registered throughout the world. This product is offered through Citibank, N.A. which is authorised<br />
and regulated by the Financial Conduct Authority. Registered Office: Canada Square, Canary Wharf, London E14 5LB. FCA Registration number 124704. VAT Identification<br />
Number GB 429 625 629. Citi Velocity is protected by design and utility patents in the United States (9778821, 9477385, 8984439, D780,194, D780,194, D806,739) and<br />
Singapore (30201501598T, 11201505904S), and design registrations in the EU (0027845156-0001/0002, 002759266-0001).<br />
2 NOVEMBER 20<strong>23</strong> e-FOREX
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