Less than two months after its acquisition of FX platform ODL Markets (FXCN acquisition goes ahead), Forex Capital Markets (FXCM) has announced that ODL has adopted its ‘no dealing desk’ (NDD) execution model.
Under NDD there is no dealer intervention: prices are streamed from FXCM’s liquidity providers with a small mark-up and trades are covered back-to-back. Before the acquisition, ODL employed a ‘dealer intervention’ model, whereby client trades can be aggregated by the platform’s dealers and covered according to their own judgement.
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