Keith Hill Head of EMEA Sales, FXall
Keith Hill Head of EMEA Sales, FXall

Online foreign exchange trading in Germany – a market poised for growth

Keith Hill looks at how, in Germany, the scene is set for a major shift in the trading of FX– moving away from the telephone towards the complete automation of the trading process

First Published: e-Forex Magazine 15 / FOCUS / July, 2004

In Germany, the scene is set for a major shift in the trading of foreign exchange – moving away from the telephone and embracing systems that offer complete automation of the trading process. Market participants have traditionally taken a cautious approach to online foreign exchange trading, but attitudes are changing. Already, according to estimates by the HVB Group, up to 10% of daily turnover in the German foreign exchange is conducted online.1 A raft of anticipated changes – from the change in status of the state banks, or Landesbanks, to the emergence of the hedge fund sector – now combine to make conditions ideal for a surge in online foreign exchange volumes.Global rise of e-forex The anticipated rise in German online foreign exchange trading is in part a reflection of an international trend. The global rise of e-forex has been well documented. Since the advent of multibank foreign exchange portals four years ago, the proportion of FX trades executed online by corporations and...continued

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