We wrapped up our 2017 H1 FX Managers' PeerGroup 2 meeting last Friday, sponsored by Thomson Reuters, which I had the pleasure of attending. In line with other recent NeuGroup meetings I've sat in on, I wanted to share my top takeaways:
1) FX help wanted. Several members in the opening session noted the challenge of finding experienced FX talent for their treasuries, especially at the senior analyst and manager level. Knowledge exchange on viable candidates that just missed being hired and a group job board may help take down member FX help wanted signs.
2) Focus on exposure. Technology applications to help FX managers better define and analyze their FX exposures were a major topic of discussion. FX management starts with the ability to define exposures and collect quality information about them. Members are either looking to deploy new solutions or build out the capabilities of those already implemented.
3) FX bank scorecards create wins. Several members shared the scorecard reports they use internally to evaluate their FX banks on trade pricing and performance and what they share with the banks during quarterly or annual reviews. Monitoring performance and sharing key metrics like hit ratios on requests for quotes are common, but even qualitative evaluations of items like post-trade settlement efficiency can lead to significant wins in bank-service levels as well as trade execution performance. Most member scorecards start with report data downloaded from FXall to produce their bank evaluation scorecards. New Execution Quality Analysis tools are coming from FXall later this year to make this even better.
Next up is our Treasurers' Group of Thirty Large-Cap Edition that will be meeting April 6 in New York with the support of Deutsche Bank.
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