Decisions made by the Swiss National Bank yesterday caused excessive volatility in the Forex Market. This recent debacle has proven once again the importance for risk management and trade reconciliation for brokers. Time and again we find that brokers do not put enough emphasis on managing their risk but instead choose to “fly by the seat of their pants” until it is too late. We have heard an extensive amount of complaints from sources that their liquidity providers have re-quoted, froze liquidity, and even altered confirmed ticket prices hours later.… read more →
Necessitated by strong and growing client demand for its products, CurrentDesk, a leader in brokerage management and trading operations software, has completed its first funding round, taking an undisclosed amount of growth capital from unnamed private sources. The capital will support the company’s focus on timely client on-boarding, as well as ongoing product development and integration of technology partners. CurrentDesk remains well-positioned at the center of a multi-year trend of fragmentation in the online brokerage space. With multiple new brokerages launching each month, operators demand cutting-edge, independent software solutions that… read more →
With an increase in the sophistication of traders and growing demand for a wider range of trading products and trading platform, brokers have been adding trading systems to their offerings. As a result operations teams are finding it more challenging to run the business and require additional staff to meet demand. Managing multiple platforms and even multiple servers of the same brand means middle office and back office need to run a larger variety of reports and keep track of more diverse data in order to keep track of the… read more →
One of the most difficult challenges that Forex brokers back office staff face is reconciling the accounting methods utilized in trading platforms with those methods used by the clearing agent be it an institutional liquidity provider or prime broker. In other words retail trading platform apply P&L, commissions, swaps and other charges differently than how the clearing partner applies them and as a result aggregate equity changes on the platform do not match equity changes at the clearing partner. Since the equity changes on the frontend do not correspond to… read more →
