Banks still dominate market, report finds
NEWS
Research from Boston-based consulting company Aite Group found approximately 56% of all FX trading was conducted electronically at the end of 2006. Aite Group estimates this figure will approach 75% by 2010.
The surge in electronic trading has spurred increased competition between market participants. The report cites multi-bank electronic communications networks (ECN) Hotspot and Currenex, as well as OTC-centralised counterparty exchange model FXMarketspace, as working hard to tackle the market
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