Gain Capital an NYSE listed broker/ dealer has been expanded its footprint in the institutional scene. It recently established a full service desk in Singapore servicing institutional, HNW and corporate clients. It has expanded its offering by launching a new phone-execution desk as part of its GTX institutional platform. The new service, launched on September 27, will give clients 24-hour access to foreign exchange professionals over the phone.
“There are clients working with Gain GTX who are focusing on electronic trading but many of them have additional foreign exchange business to do that requires a more traditional service,” says Ross Taylor, the new managing director of Gain GTX.
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Despite the numerous electronic commerce platforms in the market, there is still a strong demand for traditional voice platforms, argues Taylor.
“Many clients still find a need for the human touch with someone who has deep foreign exchange expertise and can provide them with market insight. They also might need specific services and products. These days, when the market is so chaotic and there are big moves, the interest is very strong in having foreign exchange professionals with that kind of background to help,” Taylor says.
Voice trading is still present in the institutional space, commonly used for large transactions and unusual currency pairs.