Across the capital markets, banks and buy-side firms are uncovering remarkable efficiencies thanks to interoperable applications and radically transformed desktops. While much of the conversation around this innovation has focused on the equities space, these growing trends are rapidly transforming one of the world’s largest markets: foreign exchange.
Before we dive into what some of our clients are doing with regard to FX, it’s helpful to review why it has historically lagged behind equities in terms of desktop modernization. While several new venues for stock trading have surfaced in recent years, the vast majority of the market share resides with a few centralized exchanges. Conversely, FX traders must work the interbank market, which is largely over the counter and highly fragmented.
This fragmentation of the FX marketplace leads to the fragmentation of applications – different web portals, analytics tools, pricing streams and so on. The usual result is a trader desktop that contains a glut of apps that do not work well together, which can frustrate end users and create workflows that prevent them from getting the most out of these powerful functionalities. Many FX professionals describe an information overload and stress a need for better visualization and alerting capabilities. Above all, traders need better guidance and more user-friendly workflows so that they can focus less on navigating their desktops and more on what they do best: trading.
Our desktop operating system is a comprehensive solution for this long list of inefficiencies. By building with OpenFin, developers can create platforms that can be instantly deployed and fit seamlessly into existing workflows and the larger FX ecosystem. In addition, our strong security and iterative development capabilities ease deployment, facilitating innovation within the dynamic FX space.
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