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March 23, 2005 at 07:00 PM
LONDON (HedgeWorld.com)–Daily trading volumes for foreign exchange trading have exceeded US$35 billion for the first time, according to FXall, an electronic trading platform.
The currency market, which increasingly is trading over electronic networks, has grown considerably in the last year. FXall recently opened an office in Boston to handle the growing asset management sector that has taken an interest in FX trading.
Hedge funds, commodity trading advisers and investment advisers are part of the “active” trading community that has driven much of the growth. In January, this group of clients accounted for almost a quarter of FXall’s volumes, which were up 112% from the same time period last year.
Philip Weisberg, chief executive of FXall, in a statement said, “Active traders are among the most sophisticated participants in the FX markets, demanding deep liquidity, flexible trading options and comprehensive post-trade processing functionality.”
