NASDAQ OMX is making clear moves indicating it is looking seriously at on-market FX trading
We reported last month that global exchange operator NASDAQ OMX was possibly planning to have listed forex products in the not so distant future. Well a clear next step seems to be taking a higher profile at leading FX industry conferences, beginning with Shift Forex’s prestigious FXIC 2014 event in New York planned for late June.
The successful outcome from the plethora of FX industry conferences nowadays requires senior industry figures to be sufficiently engaged with each other in the right combination of events to generate business.
For the growing FX consultancy Shift Forex, which concentrates its efforts on technology, liquidity, recruiting, sales and marketing consulting as well as investment banking, the annual FXIC conference in New York is a prime fixture among one of the world’s most renowned institutional electronic trading centers.
Gaining the attention of a high profile audience and providing the opportunity to network and generate business is paramount among FX industry participants which are continually required to adapt their model and generate new relationships as well as progress existing ones on a regular basis.
On this basis, Shift Forex has today announced that NASDAQ OMX will be the Presenting Sponsor at FXIC NYC 2014, a global FX industry conference which is scheduled to be held on June 20, 2014 at the Grand Hyatt in New York City. FXIC is the premier FX forum, bringing together the retail, institutional and wholesale segments of the global FX industry.
In a press release, NASDAQ OMX said its sponsorship reflects the company’s longstanding history of driving innovation in financial markets as well as market participants’ growing demand, fueled partly by regulatory mandates in the US and Europe, for greater transparency and efficiency in FX trading and clearing. The exchange group recently announced the formation of Global Market Services, a new entity which will drive NASDAQ OMX’s expansion into fixed income, currencies and commodities (FICC).
“We are committed to the foreign exchange space and we are already well positioned, ahead of shifts in the regulatory landscape, to deploy our strategy for multi-asset trading and clearing,” said Hans-Ole Jochumsen, Executive Vice President of Global Market Services at NASDAQ OMX. “Our customer focus, product development and technology synergies will continue to drive our growth in the FICC area as we offer market participants additional trading opportunities.”
Indeed, there is an increasing need among smaller companies with ingenious ideas to promote these among large, established firms, as well as the industry stalwarts to gain full perspective on which factors are driving the industry forward. Therefore, conferences aimed at the interaction between all participants are a highly effective means of cementing relationships and driving innovation.
Matthew Miller, Founding Partner and COO at Shift Forex explained that “We are absolutely thrilled to have NASDAQ OMX as the Presenting Sponsor this year in New York.”
“NASDAQ OMX’s premier participation reflects the tectonic shifts that are occurring in the FX markets with the move toward a centrally-cleared model, as well as the continued blurring of the lines between various types of market participants, which is a central theme of the event” concluded Mr. Miller.
Shift Forex’s FXIC event attracted more than 300 industry executives in 2013, the event’s inaugural year. This year, Shift Forex has stipulated that interest has grown as market participants grapple with rapid change and the resulting challenges. As the FX space continues to mature with competitive forces and industry standards, many new entrants accelerate the pace of innovation. FXIC assembles the global FX community for two days of industry discussions, predictions regarding the future of markets and access to buy and sell-side participants, brokers and technology providers, compliance and legal professionals. For more details see https://www.fxic.com.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.