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

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