Fighting forforex space

With electronic forex trading volumes rising rapidly, it is no surprise new platforms – both multi-bank and proprietary – are emerging to try and get a piece of the action. But while new entrants are still coming in, other platforms are shutting up shop, begging the question whether multi-bank platforms and single-bank platforms can occupy the same space. Rob Davies reports

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Looking at the numbers, electronic forex trading would seem the business to get into. According to business consultants Greenwich Associates, online forex trading volumes doubled in 2003 to $8 trillion, accounting for 50% of all trades. With most multi-bank and proprietary platforms seemingly reporting record volumes every month in 2004 and the start of 2005, it is estimated over 70% of trading will be processed electronically within two years.

The two most successful multi-bank platforms are

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