From http://www.garp.com/.
If you speak to any head of foreign exchange (FX) trading today the first sentence they will utter, shortly after hello, will contain some form of military analogy. The talk will be of technological “arms races”, e-commerce “warfare” or “drawing up the battle lines” to win market share. The FX market is not just in a state of flux, but a state of open battle.
Once a purely phone-based market dominated by corporations hedging their currency exposures and banks’ proprietary trading, technological advances have led to an explosion in FX volumes. Click here to read more.
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