Study Points to e-FX Maturing
According to the results of Greenwich Associates’ 2008 Global Foreign Exchange Research Study, electronic foreign exchange (e-FX) trading volumes increased 21% from 2006 to 2007, but that impressive performance was not enough to keep pace with the surge in global FX markets last year. This is a sign that the electronic trading business could be entering a phase of more mature development. By almost any standard, last year was a good one for electronic trading systems. In addition to the overall increase in trading business, e-trading systems continued to attract new users, especially among the world’s most active FX traders. The survey found that market-wide FX trading volumes jumped 36% year over-year, however, causing the total share of e-FX on a global basis to shrink from 50% in 2006 to 43% last year.