More Newse-FX Boom Continues, But Resistance Remains in Some Quarters

e-FX Boom Continues, But Resistance Remains in Some Quarters

Although almost 50% of global foreign exchange institutions still say they have no intention of trading online, growth within the ranks of eFX market participants was enough to double electronic trading volumes to $8 trillion in 2003, according to a survey by Greenwich Associates. Electronic foreign exchange boomed last year as new institutions logged on and past converts shifted large portions of their business online, said the report. This growth — which Greenwich attributes to institutions that experimented with e-trading in past years shifting big volumes online in 2003 — is supporting an unexpectedly robust host of eFX service providers. ‘People have consistently predicted consolidation among electronic service providers,’ noted Greenwich Associates consultant Tim Sangston, ‘but instead we’ve seen exactly the opposite — the entry of new firms, each attacking the market at different levels.’ However, the research found that proliferation and growth are taking place in only one-half of the global FX market, as eFX service providers have made little headway among a hard-core block of e-trading holdouts.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha