May 2001
Multi-dealer sites prepare for take off
Of the leading multi-dealer sites that will serve the online foreign exchange market, only Currenex and State Street’s Global Link FX Connect services are trading yet. Both Atriax and FXall are yet to complete testing, though both expect to be on stream in the very near future.
Of the leading multi-dealer sites that will serve the online
foreign exchange market, only Currenex and State Street's Global
Link FX Connect services are trading yet. Both Atriax and FXall are
yet to complete testing, though both expect to be on stream in the
very near future. Atriax and FXall are consortium sites, backed by
many of the world's leading banks, but Currenex is independent.
FXConnect started life as a single-dealer proprietary site but now
incorporates additional banks to offer clients a multi-dealer
platform.
FXConnect constitutes just one component of State Street's Global
Link system. State Street also offers online solutions in equities,
fixed income and futures, with all the asset classes handled by the
Global Link trade-order management function. State Street executed
its first online currency trade as long ago as August 1996, making
it a relatively old hand in the field. At the time, the system was
single-dealer. It now provides access to...
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