Industry altered by e-trading

“What e-FX has done is enable us to unbundle the pieces of the transactional life-cycle,” said Rita Saverino, a director in FX at Deutsche Bank in New York. “It’s enabled customers to choose where they want to get each piece of the process from.”

Panelists confirmed that they are now seeing one of the anticipated benefits of e-trading – the freeing up of sales staff to spend more time working with their customers, as they spend less time on the process of executing transactions.

“It’s enabled the sales dealers to get off the desk and go and see clients,” said Jake Smith, associate director in e-commerce treasury and capital markets at HSBC in London.Vikas Srivastava, global head of e-commerce at Citigroup in London, added that Citi now has more sales people in foreign exchange than it did two or three years ago, as a result of these developments.

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