Forex market electronic trading observations
Source: ClientKnowledge FX2004-2005 Study
Presented: ECB, March 2006

Distribution of growth in traded volumes  2004 to 2005

• If EBS / Reuters are included in the % of volumes transacted, then electronic trading is very high
• Otherwise estimated that more than 50% of market is electronic
• Algorithmic volumes made up 5% - 7% of overall volume by mid-2005 and may have doubled since