Exness CCO interview: Decoding the market maker’s success formula


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Wednesday 12 July 2023 16:03 BST
Global player: Exness now commands a significant piece of market share in FX, commodities, incidences and crypto trading volume
Global player: Exness now commands a significant piece of market share in FX, commodities, incidences and crypto trading volume ( iStock)

Exness is a Business Reporter client.

Business Reporter: Exness Global Pt.2

In the final episode of Business Reporter’s interview series with Damian Bunce, Chief Customer Officer of Exness, the audience gets an insider’s perspective into the success and growth of Exness. Bunce dissects the operational mechanics of Exness as a market maker and discusses the company’s scientific ethos, the people inside the engine room, where Exness is today and where it’s headed.

Established in 2008, a year of significant economic shift, Exness was “based on the principle of creating a much fairer, more scientific marketplace, employing the most ethical standards in the industry,” explains Bunce. Fast forward to the present, where Exness is now a globally renowned market maker, commanding a significant piece of market share in FX, commodities, incidences and crypto trading volume. “We traded $3.8 trillion in March alone and have around 500,000 active clients every month,” Bunce adds.

When asked about the secret to Exness’s success, Bunce identifies three critical factors: product consistency, continuous innovation and prioritising customer needs. Positive brand reputation for Exness hinges on offering protective mechanisms and resolving matters quickly when things don’t go as planned for its customers.

These rigorous safeguards, such as the negative balance protection discussed in episode two, have proven successful in enhancing customer lifetime value. This is ultimately a win-win scenario, fostering client loyalty while promoting business growth.

What truly sets Exness apart from other market makers and brokers, however, is its scientific approach to its operations. “We employ mathematical models to piece together [the] liquidity and build a compelling pricing proposition for our clients,” says Bunce. About 40 per cent of the company’s 2,000-strong workforce are dedicated to core technology and data science, which includes a team of quantitative mathematicians solving problems and transferring knowledge to software engineers for practical implementation.

Bunce also shares what’s in the pipeline at Exness. One upcoming feature is a tool to visualise the better-than-market-trading advantages offered to clients inside the Personal Area. This is in addition to the existing volatility protection that at certain times can allow trading even when equity falls below zero.

Wrapping up, Bunce shares Exness’s vision for the crypto market, an asset class that’s very much a part of the market maker’s future. Despite the regulatory challenges faced by many brokers and market makers, Exness is keen to expand its crypto offerings. When pressed on the subject, Bunce reminds us that the intermediary role of a market maker is also a neutral one. “It’s not our job to dictate what traders should or should not trade,” he points out. “Our role is to identify market opportunities and build a compelling marketplace for those assets.”

As Exness continues to push boundaries and ventures into the next frontier of trading, we look forward to seeing where the journey takes them next.

Learn more about the world’s largest retail market-maker.

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