Rebecca Schechter Senior Managing Director, State Street Global Markets
Rebecca Schechter Senior Managing Director, State Street Global Markets

The Perfect Match: What to look for in Electronic FX Providers

New and seasoned participants in the burgeoning foreign exchange (FX) market continue to leverage electronic trading platforms. Whether they are money managers in search of better fund performance or banks in need of cost-saving efficiencies, users are seeking particular electronic FX (e-FX) functionality and benefits. The best products and providers offer access to liquidity, improved cost and time efficiencies, better price transparency, greater stability, error reductions, enhanced auditability, and smooth integration with existing in-house systems.

First Published: e-Forex Magazine 36 / Viewpoint / July, 2009

New and seasoned participants in the burgeoning foreign exchange (FX) market continue to leverage electronic trading platforms. Whether they are money managers in search of better fund performance or banks in need of cost-saving efficiencies, users are seeking particular electronic FX (e-FX) functionality and benefits. The best products and providers offer access to liquidity, improved cost and time efficiencies, better price transparency, greater stability, error reductions, enhanced auditability, and smooth integration with existing in-house systems.Rapidly expanding marketplace According to Greenwich Associates, worldwide FX trading volume swelled 13 percent from 2007 to 2008. Though down from the spectacular 36 percent growth a year earlier, the significance of this double-digit expansion cannot be understated. Similarly, electronic trading surged 37 percent in 2008, making it the dominant means of executing global trades, accounting for 53 percent of all global FX trading (up from 44 percent in...continued

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