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High society, prestige and the world’s center for the latest fashion and style are some of life’s finer things which often bear no resemblance to the sombre-suited world of FX technology and financial markets.
That is, unless the company concerned is an avantgarde, media-savvy Swiss FX firm with its own television company and technology division.
In line with Dukascopy Bank’s methodology of innovative modus operandi, the company holds a monthly event in its home city of Geneva, which combines these two otherwise very different worlds in a city which is synonymous with both.
Geneva is world renowned for being home to some of the world’s most secure financial institutions, as well as a world center for fashion design, the manufacturing of precision timepieces and as a center for style and opulence.
Dukascopy’s monthly Geneva Forex Event, which was hosted at the Four Seasons Hotel De Bergues on Lake Geneva, brought together approximately 500 high net worth investors, traders, white label partners and members of Switzerland’s high society, which in May this year was attended by LeapRate.
LeapRate has long been an advocate of modernity, and concentration on media and television is proving to be very much the direction which the future of FX and most technology-led business will have to take, not just for acquisition of clients, but also for the provision of news and current affairs to industry participants.
Dukascopy considers its own worldwide television channel, Dukascopy TV, to be of great advantage, and thus the Geneva Forex Event, instead of being a conference or expo, resembles a fashion show which has a large emphasis on media and celebrity.
Its sponsorship echoes that line of thinking, which is provided by names from the very upper echelons of the fashion world, such as Versace, Salvatore Ferragamo, Vermorel and Flavio Castellani, all of whom exhibit their leading edge designs, with Flavio Castellani having presented the “desfile” catwalk show at this event in May. Vermorel is scheduled to present the Gateway to Autumn fashion event as August draws to a close, and Versace will present its fashion show at October’s Geneva Forex Event.
Indeed, to demonstrate the caliber of the attendees, high level fashion house Vermorel was showcasing a ladies evening wear jacket, at a value of $62,000.
The technology-led emphasis of the event runs from the electronic registration process, which allows guests to exit from their chauffeur driven luxury car and into the Geneva Forex Event without having to suffer the indignity of a line, or sully their hands with the mundane completion of forms – instead, an electronic system presents each attendee with a badge, ideal for networking, and within less than 20 seconds the attendee is sipping Duval-Leroy Champagne, and musing over their day’s trading with potential business associates whilst observing the fashion on display.
Guests present not only comprised regular attendees, but also those for whom the event was a first. Speaking to one such attendee, LeapRate ascertained the value of such a diversion from the norm: “This was the first time I’ve ever gone to The Geneva Forex Event. I have to say that I found the total experience very interesting, the way they mixed financial networking with fashion industry features including a catwalk fashion parade presenting fashion designer Flavio Castellini’s latest designs. I had no idea that events like this even took place, whether in Geneva or elsewhere. What a magnificent idea Dukascopy Bank came up with” stated the attendee.
“What they ended up delivering was a great place to do business, see fashion shows, meet new people, and make good network connection—all while enjoying high-end champagne in a very stylish atmosphere. I recommend that everyone attend at least once” he explained.
Those who attend regularly are well catered for and are accustomed to experiencing Dukscopy’s lap of luxury, with one regular attendee stating “Dukascopy Bank’s First Vice President Luis Sanchez invited me many times to his events such as this one, but I did not give those earlier invitations my real attention.”
“When he persisted and insisted that I come, I finally caved and came to one of these event for the first time early this year. Wow. I could not believe the concept. This whole thing of having a financial Fx event in combination with fashion shows, exclusive brands—it was… energizing and engaging. This time, I came with my wife. She loved it.”
“This whole vibe is hard to find at other events. I am setting an intention to return at least twice each year. I imagine this plan would be a best-practice for others too. Congratulations to Dukascopy Bank, Dukascopy TV, and all of the brands and designers that have made this night so “exclusive” for us. (Even having the chance to meet the owners of the bank was a highlight of the event for us. Where else does this happen?!)”
By concentrating on other phenomena and moving Dukascopy Bank’s audience over the boundaries of the traditional FX industry sector, the company increases its spectrum into areas relatively untapped, exemplified by the launch of its Dukascopy Connect secure instant messenger last month, which LeapRate discussed recently during a television interview with Dukascopy CEO Alain Broyon. This is a mainstream application which takes on products outside the financial market, such as WhatsApp.
Furthermore, the combining of fashion with FX ensures that another very important market is reached which many retail FX providers have yet to extract the best from: high net worth female investors.
The Geneva Forex Event is attended by as many ladies as it is gentlemen, most of whom are highly experienced investors, therefore appealing to potentially 50% more traders than otherwise.
High-level media coverage was not restricted to the financial sector itself, with the city’s news source Tribune de Geneve having covered the event, along with LeapRate’s Managing Editor, Andrew Saks-McLeod, with all attendees concurring that the event is a must-do fixture within the annual diary of FX industry participants.