Will white labelling stick?

The online FX market has continued to see massive growth over 2002. Banks have strategically looked to move ever bigger deal tickets into an environment where they can enable seamless automatic trading, without the high costs associated with human intervention. All the major players have continued to report shifts in the percentage of volumes carried out online.

The single-bank platforms have continued to develop both in terms of their business models, sophistication and product sets. As with

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