We helped FX broker Eurex offer clients 24/7 trading and improve profitability by managing their business in real-time.
Eurex is a provider of FX trading, exchange and other financial services via online and Bureau de Change channels. Products range from simple currency exchange to complex FX instruments.
FX is a dynamic, volatile market where risks and rewards are high. Increased competition from new entrants has created a sharper focus on margins and client retention. Eurex approached Union to provide a digital solution delivering efficient operations without sacrificing client experience or corporate governance.
Strong But Agile
Union I markets is implemented across Eurex’s bureau de change network to manage currency exchange, while the online channel supports spot, forward and swap transactions. Smart automation features such as product templates, cross-rate calculations and integrated documents provide efficiency and reduce operational risk. Agile architecture which is open to API delivers market data feeds from Thomson Reuters to ensure competitive rates, while SWIFT integration supports transaction settlement.
Union I online is being implemented to enable Eurex clients to self-service, including checking balances and trading in real-time 24/7. Visual tools and great UX make it easy for clients to understand the market and trade with a frictionless experience. Eurex will utilise the digital channel to provide market updates and personalised offers, increasing client loyalty and cross-sell.
Managing The Bottom Line
Union I markets has a range of features which help management manage profitability in a proactive manner. Deep insights on a client, product and portfolio basis allow for better design of products and policies. Centralised product configuration allows for tiered pricing based on the client, location or product, with the ability to adjust margins in minutes across all channels. Smart automation and referral of large transactions for dual sign-off reduce operational risk.
Competitive Business Model
By implementing Union solutions Eurex has developed an agile business model. Market reach is extended to a 24/7, international basis with client value propositions improved via a frictionless, personalised experience where loyalty is rewarded. Modular functionality, SaaS licensing and full-service support ensure bottom-line efficiency.
Profitability is sustained by good governance. A standardised approach with strong control is applied across the business, while real-time insights on activity levels and IFRS compliant financial statements and the ability to implement adjustments quickly preserve value.