Calyon to outsource liquidity

The French bank has been talking to three banks to source pricing in pairs where it does not have round-the-clock coverage, said Andrew Kellner, global head of forex, funds and commodities at the bank in London. "We are currently exploring the white-labelling market and are talking to two or three banks to source liquidity in certain currency pairs at certain times of day."

He said any deal should be in place by mid October but that it would be a temporary measure, while the bank builds up its capabilities. Kellner told FX Week that Calyon is lining up a technology platform to enable it to build up its global currency capabilities.

Kellner added that the bank, fresh from the merger of Credit Agricole Indosuez and Credit Lyonnais, is seeking to become a top 10 foreign exchange provider within 18 months. "We have taken on sales staff and are seeking to drive up business from hedge funds, asset managers and prop desks where there are large transactions on a regular basis. We have the right capabilities in terms of people and when the platform is functional we should be able to attract much more business."

Calyon is the first major bank to indicate its interest in outsourcing liquidity – also known as white labelling. Banks such as Citigroup, HSBC and UBS have developed white-label platforms targeting mid-tier banks – but so far, few have said they are using them.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Smarter trading in a fragmented world

FX Week recently hosted a webinar in partnership with Refinitiv to ask foreign exchange industry leaders to discuss geopolitical challenges, market changes and developments, and evolving technologies, and how they have shaped forex markets in Asia

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here