[ I N D E P T H | F O R E I G N E X C H A N G E ]
and each of the three mitigations to experience loss are designed to support scalability and flexibility in the face of disruption.
To this end, the multi-asset desk model is an example of a process rejig rather than a complete overhaul. It’ s not a novel train of thought in the industry to suggest this model is the future, but Smith has emphasised the need to balance breadth and depth in trading skillsets. Dividing expertise doesn’ t have to mean a divide of specialisation.
“ We might not have dealers as experienced with FX as their predecessors who have now left, but it doesn’ t mean we no longer have experienced dealers, or can’ t train FX experts.
“ We’ re not diluting expertise but instead looking to develop multi-asset traders with strong specialisation in key areas. It’ s always going to be a hybrid approach, but the multiasset desk mitigates some of the strain caused by experience losses.”
The model supports more personalised trading in emerging and frontier markets where market knowledge remains crucial, as already seen in APAC where unique conversations and trades remain commonplace.
“ You can automate a lot and there is the flexibility to add to their specialisation while expanding our competencies,” Smith adds.
A big transformation, however thoughtful, is of course not a one-way ticket to multiasset desks, as Smith himself allows. Rather, it’ s an agile drive to identify the best model for each circumstance. In some cases, adaptable and skilled multiasset dealers are trained to handle a broad range of instruments while retaining deep, granular market understanding.
This aligns perfectly with Aberdeen’ s global dealing desk, explains Smith, where a follow-the-sun model allows for continuous market coverage, improved knowledge sharing, and complete agility.
A focus on high touch Aberdeen’ s automation approach is demonstrably built not to replace specialised expertise and relationship building, but to relieve burden from more routine trades to channel those skills and that experience to more complex and nuanced deals.
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