Aussie banks join e-FX arms race

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Most Australian banks active in foreign exchange have been driven to increase their technology spend in recent years as large international banks have entered the market, threatening to poach their clients with state-of-the-art electronic FX platforms.

"The Australian banks have been forced to up their investment in e-FX as the global players have extended their technology into the Australian market, targeting the local banks' franchise customers. In response to this, we have had to have a defen