Ian Martin Chairman of Australian FX Committee State Street Global Markets
Ian Martin Chairman of Australian FX Committee State Street Global Markets

Revolutionary transformation and extraordinary opportunity – Today’s electronic FX Market is changing everything

Ian Martin looks at how the digital nervous system of e-FX is transforming the FX market.

First Published: e-Forex Magazine 27 / Leader / April, 2007

The global foreign exchange market is undergoing revolutionary transformation at a rate unlike any I’ve ever seen. It’s difficult to assign a single driver of this dynamic situation – rather, what we are seeing is a mutually-reinforcing combination of new technologies, diverse new market participants, a stunning flood of multi-sourced capital market liquidity and a new belief in currencies as an asset class. And of course electronic foreign exchange trading systems make it all possible – this near zero-latency network is the digital nervous system that is both allowing the transformation and accelerating its impact. The worldwide market in foreign exchange is a remarkable capital markets success story. Over the past four years daily volume has tripled -depending on how one measures it, daily turnover may already top $3 trillion. Liquidity is deep and competition is vigorous. Margins are razor thin and all market participants – from the largest central bank to...continued

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