The strange lack of technological disruption in Foreign Exchange (12th November 2020)

[NOV 2020]

A FUTURE OF FINANCE WEBINAR WITH FINTECHS PLANING TO DISRUPT THE GLOBAL FX MARKETS WITH DIGITAL TECHNOLOGIES AND DATA

Thursday 12 November 2020, 2.00-3.00 pm UK time

Despite their importance, size and liquidity the global FX markets have remained largely immune to the digital technology revolution. The reasons for this include their global scale, amorphous and fragmented structure and lack of an over-arching regulatory framework, but the principal cause of the lack of innovation is the domination of the FX markets by a small coterie of large global banks. Even the FX services for consumers developed by household name FinTechs have done little more than reduce the margins banks enjoy in one area of their business. In the wholesale FX markets large corporations, asset managers and asset owners continue to pay high prices for FX execution and hedging. This Future of Finance event engages with a group of innovators that have identified ways to challenge the banking oligopoly in FX.

Topics of discussion will include:

• Continuing domination of the FX markets by a small group of large banks
• The inability of exchange groups to disrupt the FX markets
• The role of end-users such as corporations and institutional investors
• Impact of peer-to-peer pre-market netting
• Incentives for banks to cut costs, especially in post-trade processes
• Potential alternatives to FX prime brokerage, including tokenization of assets
• The effects of democratising price information
• The meaning of retail FX FinTechs

Panellists

Rosario Ingargiola: Founder and CEO, Bosonic https://www.linkedin.com/in/rmingargiola/
Andy Woolmer: CEO, New Change FX https://www.linkedin.com/in/andy-woolmer-62a2912/
Adrian Patten: Chairman, Cobalt DL https://www.linkedin.com/in/adrian-patten-0a33456/
Moderated by Dominic Hobson, Co-Founder of Future of Finance

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