Banks playing it safe with single-dealer platforms

The forex market has plenty of third-party multi-dealer platforms on which clients can request quotes from several sources. With this model in place, why do so many banks remain wedded to single-dealer solutions? Jonathan Lopez reports


Banks prefer single-dealer platforms to their multi-dealer counterparts because they help breed client loyalty. "I can see some of the benefits of a multi-issuer platform, but if we can do the whole process ourselves - the pricing, the development of term sheets, and so on - we maintain a more direct relationship with our clients compared to a multi-bank platform," says John Bartter, head of FX institutional platforms at Deutsche Bank in London. "The industry will also need to provide investment

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