CitiFX Vendor Review Continues to Set the Gold Standard for Foreign Exchange Venues
Citi has launched its annual CitiFX Vendor Review, offering a comprehensive analysis of the FX landscape. The review aims to set the gold standard for FX venues, providing insights to help clients navigate the complex market. Key findings from this year's survey of 120 active clients include:
- 87% satisfaction with primary vendors
- 88% have enhancement requests
- Decline in clients seeking new vendors (51% in 2022 to 19% in 2024)
- Focus on improving existing FX management solutions
The review promotes best practices, operational governance, and adherence to the FX Global Code of Conduct. It evaluates vendors across nine criteria, including functionality, connectivity, and customer service. The initiative aims to improve connectivity, product offerings, and market stability for the benefit of clients and market participants.
Citi ha lanciato il suo annuale CitiFX Vendor Review, offrendo un'analisi completa del panorama FX. La revisione mira a stabilire il gold standard per le sedi FX, fornendo approfondimenti per aiutare i clienti a navigare nel mercato complesso. I principali risultati del sondaggio di quest'anno, che ha coinvolto 120 clienti attivi, includono:
- 87% di soddisfazione per i fornitori principali
- 88% ha richieste di miglioramento
- Declino dei clienti che cercano nuovi fornitori (dal 51% nel 2022 al 19% nel 2024)
- Focus sul miglioramento delle soluzioni di gestione FX esistenti.
La revisione promuove le migliori pratiche, la governance operativa e l'aderenza al Codice di Condotta Globale FX. Valuta i fornitori su nove criteri, tra cui funzionalità, connettività e servizio clienti. L'iniziativa mira a migliorare la connettività, l'offerta di prodotti e la stabilità del mercato a beneficio dei clienti e dei partecipanti al mercato.
Citi ha lanzado su revisión anual CitiFX Vendor Review, que ofrece un análisis completo del panorama FX. La revisión tiene como objetivo establecer el estándar de oro para los espacios FX, brindando información para ayudar a los clientes a navegar en el complejo mercado. Los hallazgos clave de la encuesta de este año, realizada a 120 clientes activos, incluyen:
- 87% de satisfacción con los proveedores principales
- 88% tienen solicitudes de mejora
- Disminución de clientes buscando nuevos proveedores (del 51% en 2022 al 19% en 2024)
- Enfoque en mejorar las soluciones de gestión FX existentes.
La revisión promueve las mejores prácticas, la gobernanza operativa y la adherencia al Código de Conducta Global FX. Evalúa a los proveedores en función de nueve criterios, incluyendo funcionalidad, conectividad y servicio al cliente. La iniciativa tiene como objetivo mejorar la conectividad, la oferta de productos y la estabilidad del mercado en beneficio de los clientes y los participantes del mercado.
Citi는 매년 CitiFX Vendor Review를 발표하여 FX 환경에 대한 포괄적인 분석을 제공합니다. 이번 리뷰는 FX 플랫폼에 대한 금본위 기준을 설정하여 고객이 복잡한 시장을 탐색하는 데 도움이 되는 통찰력을 제공합니다. 올해 120명의 활성 고객을 대상으로 한 설문조사의 주요 결과는 다음과 같습니다:
- 주요 공급업체에 대한 87%의 만족도
- 88%가 개선 요청
- 새로운 공급업체를 찾는 고객의 감소 (2022년 51%에서 2024년 19%로 감소)
- 기존 FX 관리 솔루션 개선에 집중.
이 리뷰는 모범 사례, 운영 거버넌스 및 FX 글로벌 행동 강령 준수를 촉진합니다. 기능성, 연결성, 고객 서비스 등 아홉 가지 기준에 따라 공급업체를 평가합니다. 이 이니셔티브는 고객과 시장 참여자들에게 이익이 되는 연결성, 제품 제공 및 시장 안정성을 개선하는 것을 목표로 합니다.
Citi a lancé son CitiFX Vendor Review annuel, offrant une analyse complète du paysage FX. La revue vise à établir la norme d'excellence pour les plateformes FX, en fournissant des informations pour aider les clients à naviguer dans ce marché complexe. Les principales conclusions de l'enquête de cette année, menée auprès de 120 clients actifs, incluent :
- 87% de satisfaction avec les fournisseurs principaux
- 88% ont des demandes d'amélioration
- Diminution des clients recherchant de nouveaux fournisseurs (51% en 2022 à 19% en 2024)
- Accent sur l'amélioration des solutions de gestion FX existantes.
La revue promeut les meilleures pratiques, la gouvernance opérationnelle et le respect du Code de conduite mondial FX. Elle évalue les fournisseurs selon neuf critères, notamment la fonctionnalité, la connectivité et le service client. L'initiative vise à améliorer la connectivité, l'offre de produits et la stabilité du marché au bénéfice des clients et des participants du marché.
Citi hat seine jährliche CitiFX Vendor Review veröffentlicht, die eine umfassende Analyse der FX-Landschaft bietet. Ziel der Überprüfung ist es, den Goldstandard für FX-Plattformen festzulegen und Einblicke zu liefern, die den Kunden helfen, sich im komplexen Markt zurechtzufinden. Die wichtigsten Ergebnisse der diesjährigen Umfrage unter 120 aktiven Kunden sind:
- 87% Zufriedenheit mit den Hauptanbietern
- 88% haben Verbesserungsvorschläge
- Rückgang der Kunden, die nach neuen Anbietern suchen (von 51% im Jahr 2022 auf 19% im Jahr 2024)
- Fokus auf die Verbesserung bestehender FX-Management-Lösungen.
Die Überprüfung fördert bewährte Praktiken, betriebliche Governance und die Einhaltung des FX Global Code of Conduct. Es bewertet die Anbieter nach neun Kriterien, darunter Funktionalität, Konnektivität und Kundenservice. Die Initiative zielt darauf ab, die Konnektivität, Produktangebote und die Markstabilität zum Vorteil der Kunden und Marktteilnehmer zu verbessern.
- Launch of annual CitiFX Vendor Review, providing comprehensive FX landscape analysis
- 87% client satisfaction with primary vendors
- Promotion of best practices and operational governance in FX trading
- Evaluation of vendors across nine criteria to improve client experience
- Potential 'vendor lock-in' risk due to deeply customized and integrated FX execution venues
- 52% of clients looking for core area improvements in existing solutions
The review highlights where strategic venue and vendor partners can improve based on client need and work towards a gold standard of best practice, operational governance, and clear benchmarks.
Based on a robust framework and data-driven analysis, the review empowers clients to navigate an increasingly complex FX landscape. The analysis provides unique insight, helping clients identify FX venues which meet connectivity requirements, which ultimately improves the end client experience. This year’s review includes qualitative analysis, derived from a client survey, providing insight on the regulatory landscape, and the future of AI in FX trading.
Now in its fourth year, the annual review promotes vendor best practice & operational governance, underpinned by the adherence to the FX Global Code of Conduct. Vendors are scored across nine criteria including functionality, connectivity, governance, stability, and customer service.
The results allow Citi FX team to partner closely with select vendors and assist in delivering clients’ priorities. Ayesa Latif, Global Head of FX Products at Citi said, “Ultimately, what we’re trying to achieve is improved connectivity, product offering, stability and how the market is operating. This will help benefit our clients, liquidity providers and all other market participants.”
FX venue proliferation and decline in ‘switcher’ sentiment
This year’s survey of 120 of our most active clients, across banks, corporates, asset managers and hedge fund managers - revealed the majority of clients are no longer searching for the perfect match in an FX provider,
While proliferation of FX venues in the market has continued since the COVID pandemic, comparative results from our 2022 CitiFX Vendor Review show a drastic drop in clients seeking new vendors from
The review provides some reassurance that clients are not alone in their quest for improvements and helps identify where changes may be needed if they are to remain with their provider. The insight also helps guide their decisions, if choosing a new solution or thinking of changing vendor.
CitiFX Vendor Review roundtables events are scheduled for
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20240729117450/en/
Rekha Jogia-Soni
Rekha.JogiaSoni@citi.com
Source: Citi
FAQ
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