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So it took longer to happen in FX because of the lack of exchanges? Or what?
by Sniffnoy 11y ago
So it took longer to happen in FX because of the lack of exchanges? Or what?
- rluhar 11y agoMainly because the market was fragmented and FX had a lot of arbitrary laws (i.e. which currency pairs can be traded, which pairs have a peg against the dollar) and also the complexity of settling cash trades. Looser regulations and burgeoning global trade have provided the impetus for the automation in the FX business.