Episodes

  • 2: From Voice to Automated to Algorithmic: The Changing Face of FX Trading With Graham Moss

    2: From Voice to Automated to Algorithmic: The Changing Face of FX Trading With Graham Moss
    Aug 12 2025
    In this episode of Caplin Connects, John Ashworth, CEO of Caplin, is joined by Graham Moss, Global Head of FX IT at BBVA, to reflect on the evolution of FX technology from the vendor side to the banking front line. They discuss the early success of platforms like Reuters RET, the shifting role of voice trading, and the challenges banks face when building their own FX stacks. Graham shares insights on the changing demands of tier-two and tier-three banks, the impact of commoditisation in trading tech, and why GenAI is now a must-have, not a nice-to-have. A compelling listen for anyone navigating the future of electronic trading.

    Show Notes:
    01:20 – Starting Out at Thomson Reuters
    03:15 – Banks and the Build vs Buy Cycle
    05:10 – Auto Trading and Desk Transformation
    07:00 – Scaling Across Markets
    08:20 – Vendors and the FX Ecosystem
    14:25 – Commoditisation and Competition
    18:58 – Technology, AI, and the Future
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    29 mins
  • 1: Inside the Electronification of FX Markets: A Conversation with Stéphane Malrait

    1: Inside the Electronification of FX Markets: A Conversation with Stéphane Malrait
    Jul 9 2025
    In the first episode of Caplin Connects, John Ashworth, CEO of Caplin, sits down with Stéphane Malrait, Chairman of ACI Financial Markets Association, to explore the evolution of electronic trading in FX markets. They discuss the early days of single dealer platforms, the strategic decisions behind build vs. buy technology, and the persistent cultural resistance to change within banks. Stéphane also shares insights on the role of client demand in driving digitisation and how AI is beginning to reshape the trading landscape. A must-listen for anyone at the intersection of finance and innovation.

    Show Notes:
    01:07 Early Career and Technological Innovations
    01:51 The Electronification of Markets
    05:35 Challenges and Strategies in Banking
    16:47 Organisational Dynamics and Asset Classes
    18:34 The Rarity of Cross-Asset Expertise
    22:32 Client Relationships and Market Changes
    23:49 Simplifying Client Transactions
    26:04 AI's Impact on Financial Services
    37:26 Conclusion
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    38 mins
  • Introducing Caplin Connects...

    Introducing Caplin Connects...
    Jun 27 2025
    This is Caplin Connects... the podcast where we talk about Single Dealer Platforms, trading technology, and everything in-between. In each episode, we'll dive into the trends, tools, and talent shaping the future of electronic trading. Join us as we unpack what's new and what's next!
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    Less than 1 minute