Electronic frontiers in foreign exchange trading

摘要: Perhaps no other industry has been affected by the e-commerce revolution more than financial services. The Internet, together with deregulation and globalization, engendered a wave of hypercompetition that includes emergence new exchanges, markets, distribution channels providing opportunities for cost reduction strategic advantage [2]. While equities markets have focus much research [2, 8, 12], scant attention paid to structural transformation occurring within foreign exchange enabled Web trading platforms. In terms volume, (forex or fx) may represent largest opportunity yet. According Bank International Settlements (BIS), forex is leading segment world markets; its roughly $1.2 trillion in daily turnover approximately equivalent month combined NYSE Nasdaq trades. still comprising small portion overall fx market, Greenwich Associates pursuit $1.2-trillion-a-day opportunity.