Institutional Investor Covers Axa's Move To TradingScreen

Today’s dispatch from the front lines of the so-called foreign exchange platform wars is brought to you by Institutional Investor, which leads off their story with more coverage on Axa’s move to TradingScreen from FXAll:

…AXA is now undergoing another shift. It is in the process of moving most of its currency business to… TradingScreen…“We want one screen with all the capabilities,” says (Lee Sanders, AXA IM’s London head of FX and money market operations)… TradingScreen attracted AXA with its extensive range of algorithmic trading, flexibility in enabling users to set their own risk parameters, and transaction cost analysis tools to help AXA ensure it is getting the best currency deals.  TradingScreen, “is bringing more ingenuity and enhancements to the market than FXall,” Sanders says. “We want to stay ahead of the curve.”

The article goes on to cover the changes in the foreign exchange market, and emerging technologies, which are prompting leading buy-side institutions like AXA Investment Managers to move to firms like TradingScreen.

Because of the demands for new types of services, TradingScreen…is now getting a lot of attention. It has a number of liquidity providers available on the screen, including bilateral bank feeds and multibank networks. But it also offers software services to institutional investors like AXA. So a trader buying a foreign stock will automatically know his or her currency exposure on the screen… TradingScreen’s system does a transaction cost analysis to show whether any of the FX trades were far out of the average price at the time of the trade.

“Both single-bank and multibank platforms come to TradingScreen to provide them with access to all the liquidity, as well as the functionality, which isn’t available anywhere else,” says Jean-Philippe Male, who heads the outfit’s FX and fixed-income divisions.

Click the link to read the entire story online, A Platform War Erupts In The Foreign Exchange Market.

Or check out the other great coverage on TradingScreen and AXA.