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FX trading technology spending on the rise - survey

09 June 2009  |  13476 views  |  0 foreign exchange rates on screen

Spending on electronic foreign exchange trading technology is set to soar with an "arms race" taking hold as firms look to improve execution speed, according to a survey from CEP vendor StreamBase.

In a poll of over 200 buy and sell side individuals actively trading forex, a massive 90% say they plan to increase spending on low latency technologies in the next 18 months.

About 65% of respondents say they execute FX trades electronically to improve execution speed with 69% using, or planning to use, algorithms. In addition, nearly half of firms plan to change or add electronic forex venues, primarily for better pricing.

Mark Palmer, CEO, StreamBase, says: "A technology arms race has begun in FX and automated, low-latency trading is the main battlefield in that race."

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