Richard Willsher
Richard Willsher

Regional e-FX perspective on the Nordic countries

Four hi-tech economies, three niche but liquid currencies and a number of banks and service providers competing tooth and nail to gain customer business, make the Nordic countries an intriguing case study in e-FX trading.

First Published: e-Forex Magazine 51 / Regional eFX Perspective / April, 2013

Denmark, Finland, Norway and Sweden are usually somewhere near the top of any league tables of the most technologically advanced and e-enabled countries in the world. No surprise then that e-foreign exchange services are well established in the region. Nonetheless the size and natures of their distinct economies condition the way that their currencies behave and the trading opportunities that they offer. Denmark with a population of 5.5 million, has staunchly opposed adopting the euro but over 50% of its trade is with the EU. Although the country punches well above its weight in terms per capita GDP, the Danish Krone (DKK) barely registers on the Bank of International Settlements’ (BIS) 2010 Triennial Central Bank Survey on global foreign exchange market activity accounting for just 1.6% of turnover. Yet its two largest banks, Danske and Nordea (technically headquartered in Sweden) offer world-class e-foreign exchange services on e-platforms.Finland has a population of 5.3 million and unlike the other...continued

Exclusive Content

The full article is only available to current subscribers. Click here to sign in or subscribe by clicking here