Anand Iyer Vice President and co-head of Foreign Exchange at Flextrade
Anand Iyer Vice President and co-head of Foreign Exchange at Flextrade

MilanFX - Electronic Block Trading comes to FX

First Published: e-Forex Magazine 26 / Product Launch / January, 2007

Anand Iyer, Vice President and co-head of Foreign Exchange at Flextrade, discusses the impetus behind MilanFX and why their broker neutrality uniquely positions the company, as a non-aligned venue provider, to service the block FX segment.Block Trading – A brief historyThe burgeoning of electronic FX in recent years has pushed the envelope to create faster and fairer trading avenues. The FX spot market is liquid, volatile and dominated by a small set of instruments making it a perfect candidate for trading innovation. While more than 40% of the FX market is traded electronically, a large portion of it is still conducted over the phone -- especially for block size amounts.It is in this environment that our FlexFX customers made us aware of the need for an FX platform that allows for trading block size amounts. Thus was born MilanFX, Flextrade’s latest trading innovation that targets the block FX community.As always we used the equity markets as our crystal ball. Over the years we had seen...continued

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