Foreign exchange: Banks beef up in eFX

“With the hires in place, I am confident that we have a compelling electronic trading offering that will help us to realise our ambitions to become a top-five player in FX” Eric Auld, BNP Paribas

Barely a day goes by in the foreign exchange market without one bank or another making a key hire or launching a new platform in the world of e-commerce. The race to build in eFX has gathered pace in 2010 (see (see Morgan Stanley hopes for Matrix revolution, Euromoney, March 2010), and banks are wary about getting left behind.