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المشهد العربي
Forex market moves towards automation
The global currency swap market, which trades nearly four trillion dollars daily, is moving towards more automation and digital transformation in order to reduce reliance on traditional intermediaries, especially in phone-based trading operations. Currently, about 56% of currency swap contracts are executed electronically, compared to 71% of spot transactions. Expectations are that electronic trading volumes will increase in the upcoming year, with the London Stock Exchange planning to launch a dedicated clearing solution. Transactions between banks still heavily rely on voice trading through phone calls, but the shift to electronic trading remains a priority for market participants, with banks being observed for their readiness to actively participate.
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