Exchange-based FX trading is booming. The number of contracts traded on exchanges grew by 142% in 2010, according to the Futures Industry Association, making it the fastest-growing exchange product by a factor of three. This illustrates the acceptance of currencies as a legitimate asset class and the rise of high-frequency trading.
A large percentage of this growth has come from the CME Group, which first listed such contracts in 1972. Volumes have mushroomed since 2002, when the Chicago bourse began offering electronic access to algorithmic and model traders, most notably commodity trading advisers.
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