FX Cross sees record trading volumes

FX Cross, set up in Q4, 2002 to execute large currency transactions anonymously, saw turnover of $4.3 billion of liquidity in April alone – a monthly record. On one single trading session in that month volume exceeded $1 billion, including a record single currency transaction of more than $300 million.

The platform is designed to reduce transaction costs for clients by directly matching buy and sell orders for specific currency pairs. They are then executed at the next fixing of Citigroup's C