State your Company, name and position please:
Fair Trading Technology (FTT)
Tim Håman – CEO
Describe your company with three words:
Innovation. Security, Optimization
Describe your company with greater detail:
Since 2010, Fair Trading Technology has been providing technological solutions to the forex industry, with one-to-one account mapping for any number of trading platforms to any number of liquidity providers. Fair Trading Technology was founded by traders out of a need to connect platforms and liquidity providers in a seamless, transparent fashion and has since executed millions of orders. We work with leading banks, brokers and institutions to address some of the most pressing problems in the retail forex industry. We provide solutions, connecting trading platforms, liquidity providers and back office systems, offering one-to-one account mapping to a shared wallet environment, social trading, white label NOC, tradeflow intelligence and more. Fair Trading technology wants to work with those who share our core values to promote synergies that allow us to empower our clients with cutting-edge thinking and technology.
What specifically do you offer to the Forex Industry:
Technical solutions to brokers and banks. Fair Trading Technology solves the inefficiency of multiple systems connecting with liquidity. The typical bridge normally offered to brokers is not a solution. It is part of the problem.
We solve all problems in a technology that is based on ONE system, centralizing administration and management which for the first time allows brokers to optimize all flows. Our database analysis tools makes it easy to spot flow corrections and route these more efficiently to reduce costs and increase revenues for brokers.
Would you say you are a fresh newcomer to the FX industry or are you the experienced veteran?
The FTT team combines more than 60 years of forex experience, despite our company is 3 years young. In the tech and development area we add a combined 100 years of experience and we are driven by hard problems and love coming up with solutions to them. Our management team have been in many organizations and the FTT strength is when all these experiences are added up, we can develop and implement these solutions faster, since all our technology is one ecosystem of tools, adapters and API’s.
Why should current graduates or people looking for a job in Forex consider working for your company?
If they want to be a part of an extraordinary journey and working with a great team that believes everything is possible, they definitely should join Fair Trading Technology. Fair Trading Technology’s team members have a great combination of experiences from the FX industry and the willingness to learn.
What are your present issues and challenges?
There is always interesting challenges, especially the pending, possible regulatory changes in the market. Our technology allows for fast adoptions of reporting requirement that might come up. One thing we are working with is to let regulators understand that regulating technological and IT infrastructure might not be the best route forward. The same goes for liquidity, a component, that should stand clear of regulation, if they really has the best interest of the trader in mind.
To build and deliver forex technology, to make it easier, faster and better for brokers and banks as well as improve the experience for end-traders. It goes hand in hand if we want a mature industry with viable growth. Not all stakeholders understands this, that is a challenge, but we believe the industry will gravitate towards more transparency and common good between all parties.
As this is a well known cut throat industry, what means do you use to survive and to excel in such a competitive environment ?
We believe in engaging our team in everything we do and if we believe in what we do they will excel. That is how we survive in the competitive environment. We believe and make everybody else believe in us. We prove this in our products, and that proof, needs to be there, every millisecond of the delivery life-span. Team quality equals product quality which leads to customer satisfaction.
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Are you focusing on the local market or the global one?
Why settle with the local market when our product can make a difference in the entire FX industry? Now we are in the process to make our company global, we have offices in London, NY and a sales presence in silicon valley as well as having our core development team in Sweden to ensure quality R&D. Our team members are from all corners of the world, the only corner still missing is south-america, although we are working on that.
Where do you see your company in a year or two’s time?
Our vision and goals are clear, Fair Trading Technology has the best technology and development team available to deliver the best products. With that, we get the best customers. With the best customers, we evolve to lead the way in the industry.
What is branding to you and why is it important or not?
The brand is in the eye of the beholder. We see branding as our reputation, if we deliver quality solutions and understand the problem of potential customers we will build our brand to where we want to be. We want to be seen as the innovators we are. We are late to the game and we have used this to our advantage, we have had a look at what can be done better. Then we built it.
What is you predictions for the coming years of the Forex industry as a whole?
The FX market will grow for many reasons. The market have been sized at 4 trillions a long time now. Gartner have predictions to double that in the coming decade. On top of this, the STP execution is increasing and more and more previously hidden B-book values are entering the market. All of this drives volume, the higher the volumes are, technology needs to be optimized. We do just that.
What do you think the Forex industry as a whole can/should improve?
In today’s mish mash of connected systems, the clarity gets lost. With clarity, brokers and regulators can leverage the large amount of data to understand the business. This benefits a healthy regulation without over doing it, and also helps brokers increase the trader performance for its customers. The customers can get a lower “total-cost-of trade” and with clarity and transparency, they stay on longer as customers. The industry needs to move away from the “conflict-of-interest” situations. There is plenty of business in a more open environment, yet some treat this as a scary scenario. It is not if approached with clarity and optimized tools.
Do you think you as a company and the industry is transparent enough?
There is a lot of different “transparencies”, and we can always do better.
What’s your view on the Forex – social network engagement?
The FX social network engagement is healthy. As far as I’m concerned I don’t think I have encountered one company that don’t have some sort of social network engagement. It is an effective way of communicating and sending out messages. However, the social network is not the only way of communicate and that needs to be taken into mind.
Are you using the social network channels to reach more exposure and transparency?
We are active on LinkedIn, Facebook, Twitter and also with newsletters and blog updates. By using the social network channels we want to attract and reach our target in a professional way that give us and the targets the opportunity to affect and communicate. In the end, we offer a technical solution that we want the FX market to use and the best judges for that is of course the FX actors.
On the social note…Tell me something personal about yourself, such as your favorite film, holiday, hobby or football team:
I love to travel, to see the wonders of the world, it is so amazing, how grand the earth really is, and yet so small if compared to the universe. Whats out there?
Skiing is another favorite, and reading. I read a lot, and currently it is the “Dance of the Dragons, Game of Thrones”, Amazing story.
Thank you Tim for your collaboration in providing an interesting & detailed interview with us at the Forex Magnates Directory.
And safe journey on your travels 🙂 !