When to outsource your dealing desk (and when not to)
Outsourced dealing is not a substitute for in-house expertise; it is a substitute for *junior* in-house expertise. Here is the team-shape question we ask before we sign on as a desk.
Administrator
We run dealing desks for several brokers. We don't run them for everyone — and we are clear about why.
When outsourced dealing wins
- Your principals are excellent at distribution and product, but neither has spent a decade running an FX/CFD risk book.
- You want senior coverage from day one without paying senior salaries year one.
- Your launch venue is small and the desk would be under-utilised internally.
When in-house wins
- Your COO is an ex-trader who enjoys the dealing rhythm.
- Your venue is large enough that the desk pays for itself in salary terms within 18 months.
- Your differentiation is execution discipline (rare but real).
Hybrid models
We also run hybrid arrangements — we cover the desk during European overnight, your team covers your local prime. The handover is documented, the policy is shared, and the daily P&L commentary is written by whoever held the book that period.
The framing question
Is your dealing desk a competitive advantage or table stakes? If table stakes, outsource. If competitive advantage, build internal — but talk to us anyway about coverage gaps.
Newsletter
Liked this piece? Get the next one.
One short note per fortnight on brokerage operations. No spam, no upsells. Unsubscribe in one click.
