Is the trading platform GXCM a scam?
In this article, Trijo News examines the trading platform GXCM. The FCA has issued a warning regarding the company.
Traditional market players are now being challenged by companies that deal with cryptocurrencies, according to a report by Accenture.
Traditional wealth and asset managers are ineffective and struggle with pressed margins. This according to a report from the global consulting company Accenture that the finance site Realtid now is writing about.
Admittedly, these trustees account for 90 percent of the industry’s profits, but at the same time, they have major problems – including effective scalability.
The report, which is based on industry analyses and interviews with people at the managerial level at large capital market companies, also shows that traditional market players now are challenged by companies that deal with cryptocurrencies.
“Many believe that normalization of the capital market means that it will return to roughly the same as before the financial crisis. Our forecast for the coming years gives a completely different picture. The industry has so far been able to rely on historically lucrative business models, but as the industry changes, these are becoming increasingly outdated and the need for more efficient models is growing”, says Oscar Garcia, head of Accenture Capital Markets in the Nordic region, according to Realtid.
“The need for more efficient models is growing”
One of the sectors that the report focuses on is financial infrastructure. It is found that cryptocurrencies have caught up with traditional currencies in terms of revenue.
One example that is highlighted is how crypto exchanges in just a few years have gone from nothing to now making substantial profits.
“Indeed, revenue from crypto exchanges now matches that from traditional exchanges, albeit with a radically different composition of margin and turnover”, it says in the report.
At the same time, it has become tougher for, for example, institutional stockbrokers. These are barely making a profit before tax, Realtid writes.
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