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. 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.