The evolution of eFX (TT Dec04 p41-42)

The introduction of electronic trading platforms has led to radical changes in the FX market over the last decade. Electronic trading platforms now process a significant number of global transactions. A recent survey indicated that the use of eFX trading platforms has risen significantly since 2002, with almost half of $1bn-plus corporates saying that they now trade online. STP has slipped in importance when selecting an online provider. This was ranked as first in 2002 but only appeared fourth in a recent survey.