| Brian Maccaba | ||||||
Two years ago, the world of e-forex was frenzied. A realization had dawned on the market that, as an already commoditized product, foreign exchange lent itself well to simplified trading models such as those that the web had to offer. The race began to build systems that traded currency spot, forward and swap products.
Two years on, things have changed. Online forex trading has proved that it has staying power. Unlike in other asset classes, and with the exclusion of Atriax - perhaps the exception that proves the rule - few forex trading systems in either the wholesale or retail markets have collapsed. Systems built two years ago are still going, most stronger than ever.
But the colour and frenzy that surrounded e-forex has gone. Indeed some might say that e-forex is eliminating the colour and frenzy that has characterized the forex industry as a whole for years.