Kenny McBride Global Industry Manager, Capital Markets and Securities, Financial Services Group, Microsoft Corp.
Kenny McBride Global Industry Manager, Capital Markets and Securities, Financial Services Group, Microsoft Corp.

e-Trading: driving the need for integrated innovation

Kenny McBride talks about e-Trading driving the need for integrated innovation.

First Published: e-Forex Magazine 19 / Viewpoint / July, 2005

Foreign exchange is viewed by some as the purest of all trading vehicles. It is homogeneous, simply structured, in constant demand by traders, corporations, and individuals, and highly liquid by definition, all of which makes it the ideal vehicle for the electronic marketplace. As a result, banks and brokers have invested heavily in recent years in electronic trading platforms, proprietary Web sites, and multi-dealer portals to enable trading by a widely diverse institutional and retail customer base.The foreign exchange markets have been on an e-Trading growth curve since the emergence of the Reuters, EBS and Minex back in the early 90’s. The manifestation and growth of electronic trading combined with other market factors has resulted in reversing a declining trend in daily turnover volumes. The daily turnover from 2001 to 2005 rose from $1.38 trillion to $1.88 trillion (USD) a 58% growth. The inter-bank business has declined as a percentage of the total, from 64% in 1998 to 53% in 2004, while the...continued

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