39 min
One Man’s Goal: Leveling the Playing Field for FX Trades Strategic Finance Lab
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- Business
Just Technologies CEO Anders Bakke wants to give corporates pricing data that lets them negotiate better with banks.
In the newest episode of NeuGroup’s Strategic Finance Lab podcast, NeuGroup founder and CEO Joseph Neu talks with a man on a mission to bring more pricing transparency to corporate treasury teams that trade in the foreign exchange market. His name is Anders Nicolai Bakke, a serial entrepreneur who is the CEO and founder of Just Technologies, or Just for short. The fintech company started in Oslo, Norway in 2017, serves businesses in Europe and is now expanding into North America.
As you'll hear in the podcast, Just offers corporate treasurers a data-driven trade cost analysis (TCA) solution with the goal of giving them more negotiating power with the banks that charge fees and earn profit margins from FX trades that global businesses use to translate revenues from one currency to another, as well as to hedge FX exposures.
Anders says banks have access to far more market knowledge and data than many customers—a disparity that for many large but especially medium-sized companies leads to what he describes as price discrimination. Of course, that conclusion is not how many bankers view what is a multi-layered and complex subject, a point Joseph raises and explores with Anders.
In addition to TCA, you'll hear another acronym in the podcast: MTF. It stands for multilateral trading facility, a European term for a trading system for transactions between multiple parties. In this context, it includes multi-dealer FX platforms like FX All, 360T and Bloomberg's FX Go.
One thing you won't hear but might enjoy knowing is that for three years, Anders played professional bandy, a Nordic sport that's a cross between ice hockey, field hockey and soccer. Some say bandy is the world's fastest team sport. So maybe it's no surprise that Anders is committed to creating what he thinks is a more fair and level FX playing field between corporates and banks.
Just Technologies CEO Anders Bakke wants to give corporates pricing data that lets them negotiate better with banks.
In the newest episode of NeuGroup’s Strategic Finance Lab podcast, NeuGroup founder and CEO Joseph Neu talks with a man on a mission to bring more pricing transparency to corporate treasury teams that trade in the foreign exchange market. His name is Anders Nicolai Bakke, a serial entrepreneur who is the CEO and founder of Just Technologies, or Just for short. The fintech company started in Oslo, Norway in 2017, serves businesses in Europe and is now expanding into North America.
As you'll hear in the podcast, Just offers corporate treasurers a data-driven trade cost analysis (TCA) solution with the goal of giving them more negotiating power with the banks that charge fees and earn profit margins from FX trades that global businesses use to translate revenues from one currency to another, as well as to hedge FX exposures.
Anders says banks have access to far more market knowledge and data than many customers—a disparity that for many large but especially medium-sized companies leads to what he describes as price discrimination. Of course, that conclusion is not how many bankers view what is a multi-layered and complex subject, a point Joseph raises and explores with Anders.
In addition to TCA, you'll hear another acronym in the podcast: MTF. It stands for multilateral trading facility, a European term for a trading system for transactions between multiple parties. In this context, it includes multi-dealer FX platforms like FX All, 360T and Bloomberg's FX Go.
One thing you won't hear but might enjoy knowing is that for three years, Anders played professional bandy, a Nordic sport that's a cross between ice hockey, field hockey and soccer. Some say bandy is the world's fastest team sport. So maybe it's no surprise that Anders is committed to creating what he thinks is a more fair and level FX playing field between corporates and banks.
39 min