Foreign Exchange Portals Must Provide Better STP
TRANSACTION SYSTEMS
NEW YORK--FX portals need to play more of straight through processing role for their clients, beyond simply matching bids and offers on currency pairs, which is now a commodified business with extremely narrow spreads.
This was the conclusion of an electronic trading forum convened by the Foreign Exchange Committee of the Federal Reserve Bank of New York last week. Representatives from currency portals FXall, Atriax, Currenex and State Street’s Global Link-FX Connect attended along with their
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