Alpha Group: Dynamics of the FX Market
Country Manager at Monex Europe
inpractise.com/articles/alpha-group-dynamics-of-the-fx-market
Country Manager at Monex Europe
The expert has worked at Monex for almost nine years, starting his journey in the UK branch for the first two years. He then moved to Spain and started the Spanish office as part of the company's expansion plan in Europe. As the Head of Sales for the Iberian region, the expert was responsible for customer acquisition as well as market penetration across the region for another two years. In his most recent role as County Manager for Spain, he led the entire operations for the Spanish office with ~40 FTEs and reported directly to the CEO.
Interview Transcript
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Yes, exactly. For example, if they have offices in three different regions like Canada, the UK, and Europe, they would be trading in three different currencies. I was wondering if they are more lucrative than clients with just one operation, or what other factors affect how lucrative a client is, besides just the volume.
One of the most lucrative aspects I've discovered after 10 years is having a lot of volume with few people managing it. When more people are managing the FX, it becomes difficult to get a wider spread, to be honest. So, I would say volume and fewer people looking at the FX are key factors.
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Yes, exactly. For example, if they have offices in three different regions like Canada, the UK, and Europe, they would be trading in three different currencies. I was wondering if they are more lucrative than clients with just one operation, or what other factors affect how lucrative a client is, besides just the volume.
In this sense, Alpha offers zero-zero lines, which allows clients to commit to trades without holding any funds. This is especially interesting to the alternative funds industry, as the more they can put into their investments, the better returns they can achieve. This is one of the biggest selling points in terms of spread possibilities.
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So, do funds generate more revenue per client than corporates? I'm guessing it's more than 10%.
Yes, funds produce much more revenue than corporates, on average. We've seen this in our partnerships with funds. When you work with a private equity fund that holds stakes in 20 different companies, it opens the door to selling on a much bigger scale.
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