A decade into the effort to move dealer-to-dealer foreign exchange swaps trading off the telephone and onto screens, more than two-thirds of interdealer volumes are still going through voice brokers.

But as pressure on brokerage costs grows, and new technologies allow for automated management of credit lines, banks are increasingly taking a closer look at electronic swap trading venues.

“The venues are making a real push – and for all the FX swap banks, to not be thinking about connectivity