Traders, vendors seek to modernize chronically underinvested FX tech
The average FX professional uses eight applications at any one time. But integrating the FX workflow is a daunting task.
Foreign exchange is the largest and most liquid market by a long way. In April 2022, when the Bank for International Settlements last took a snapshot of market activity, it found that $7.5 trillion dollars of currency—more than twice the entire GDP of the UK—was being traded on FX markets every day.
But the technology that underlies this huge chunk of the world economy tells a different story. With near total automation in equities and dedicated efforts to electronify fixed income stealing the
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