The relationship in Asia between MT4, prime broker and retail FX firm: FinanceFeeds meets Gold-i’s Hans von der Recke
“Most of the Prime of Primes are based in Europe and the US which means the brokers in Asia can be affected by latency because they are connecting in New York or London. This means that any Prime of Prime who has a pricing engine in the Far East has an advantage” – Hans von der Recke, Head of Sales APAC, Gold-i
Last week, FinanceFeeds reported that Gold-i is accelerating its growth in the Asia Pacific region, the most recent example of this dynamic being the appointment of Hans von der Recke as Head of Sales for Asia Pacific.
Today, FinanceFeeds met with Mr. von der Recke, in order to draw on his vast experience and take a close look at what is important when approaching the vital Asia Pacific region, and how the relationship between brokers, prime brokerages and trading platforms must be conducted.
Tell us a bit about your background in financial technology, and how this transfers to one of the most prominent electronic trading and MT4 integration firms in the global FX business.
I’ve been involved in trading the currency markets for nearly 40 years – so here’s a very brief summary. I started off as the youngest Chief Dealer for the Commerzbank Group back in 1979. Looking for challenges, I moved to Australia in 1985 when they deregulated the currency markets.
After working for several international banks, I moved on to manage the currency risk of the $1.5 billion pension fund of NSW Government Australia. Back in 1997, I set up margin FX for FIMAT Australia way before anyone else. Back then everything was done by telephone trading so I have been given the opportunity to see and experience the transitions in the financial markets, from telex trading to voice trading to electronic trading.
I have a broad range of experience from being a trader working for major banks to working in a corporate needing the services of the banks. No matter where I have worked, the needs of the market have always remained the same – finding a trustworthy partner with reliable products and great service – a partner who can give the client the opportunity to make money and reduce risk.
I wanted to work at Gold-i because I believe that Gold-i’s products and levels of service meet all these needs. Their commitment and dedication to the market is outstanding. In my new role, my focus is in on making my clients the very best in their markets and I believe that Gold-i has all the tools and support to help me to deliver this.
The APAC region is of great interest to many retail FX brokerages from the West. What do brokers look for with regard to liquidity management and integration into live markets and prime brokerages compared to their Western counterparts?
I believe that the financial world is flat, which means the needs are more or less the same in all regions. So, East/West broker requirements are largely the same. What Gold-i can provide is a wide range of customisable tools and product integration to help brokers shape their offering to suit their local requirements and needs.
Indonesia and Malaysia are important emerging regions with a vast potential customer base for Western firms. How can Gold-i help brokers and white label partners in Indonesia and Malaysia compete with domestic giants such as Monex Investindo that have their infrastructure in place locally?
What is critical for the success of any broker and/or WL entering these markets is finding the right technology partner. Gold-i understands the complexities of running a brokerage. We have a proven track record in helping some of the world’s fastest and most prestigious retail FX brokers to run and enhance their operations, manage their risk and become more profitable. With our high quality technology and high quality service, our partners will be able to compete against anyone.
Do you think that the relationship between brokerage and prime of prime in Asia differs greatly from that of Western firms, and if so, how does Gold-i’s solution cater for the different requirements in access to liquidity and order execution?
It does. Most of the Prime of Primes are based in Europe and the US which means the brokers in Asia can be affected by latency because they are connecting in New York or London. This means that any Prime of Prime who has a pricing engine in the Far East has an advantage.
Gold-i’s MT4 Bridge offers brokers in Asia a huge advantage. Our Gold-i Bridge is installed directly on the client’s server as opposed to having components in London or New York. This helps significantly with latency.
What is your view on the sustainability of the counterfeit MetaTrader 4 platform market in China, and the lack of technical support that this creates? Can Gold-i’s presence mitigate this and instil the importance of genuine platform technology into brokerages?
Like any knock-off, counterfeits are doomed because of the lack of technical support and sustainability. Gold-i is a world leader in trading systems integration. The company recently celebrated its 8th anniversary. The markets knows the reliability of partnering with Gold-i. I would imagine, this is bigger concern for MetaQuotes than for Gold-i.
What is Gold-i’s immediate plan for business development in the APAC region?
Location, location, location! We want to be where our clients are. We want to sit in front of our clients, face-to face and give them all the support and service they need as well as to address any issues and concerns. We want to go beyond just offering technology. We want our clients to know that we are 100% committed to all of them and for them to understand that they have a reliable partner who can help them to make more money, cut costs and reduce risk.
Featured image: Gold-i senior executives Tom Higgins and Chris Rowe in Hong Kong. Copyright FinanceFeeds
