3. What developments or products would most improve your business?
While e-commerce and web-based products may be demanding in terms of investment, they are also cited by 28% of respondents as top of the list of developments that will drive improvements to the quality of the business or directly to the bottom line.
“It must be a key deliverable to stay ahead of electronic delivery; not developing technology that others have already, but thinking ahead to the next cycle of FX offerings,” says Roger Haws, global head of spot FX trading at Royal Bank of Scotland.
Other technology-related improvements, such as straight-through processing (STP), were highlighted by 16% of those questioned. “A reliable STP product for voice-brokered deals [would improve my business],” says Spencer King, director and FX manager at French investment bank, Calyon.
JPMorgan, like many other respondent banks, says it will continue to invest in technology that improves productivity: “such as more STP, e-commerce and algorithmic trading for managing smaller flows,” says Mr Rawlins.
