Banks vie for position in taking EM currencies electronic

emerging-markets6

While the majority of electronic trading in foreign exchange still derives from major currencies, limited economic growth in developed markets and a growing interest in emerging markets (EM) has pushed banks to develop greater electronic trading capabilities for EM currencies.

Citi has invested heavily in its electronic platform over the past two years, launching an updated version of Velocity in January 2012. Shamyl Malik, head of EM and precious metals electronic trading at Citi in London, say

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