FX comment: Thursday’s spike blocked the back end

Most FX players will have welcomed the last week’s volatility that meant a surge in platform volumes, but there have been rumours that several banks struggled to cope – and not just at the front end.

Obviously, the fact that prices are frequently gapping does cause some tension, but most leading e-commerce providers seem to recognise that being in the business requires a ‘win some, lose some’ approach.

More worrying is talk that several platforms slowed or even shut down because they were unable to process the number of tickets going through. It is a wonder why some banks still deliver retail, micro and client trades to their back offices without using an aggregation service.

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