After Success in Fixed Income, TESI Eyes FX

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TESI expects ratification in November, and hopes for a 12-month adoption period after that.

TESI was originally born from the Fixed Income Connectivity Working Group, which designed a standardized method for client onboarding in fixed income earlier this year. Building on that success, the group is targeting the way in which banks submit requests to ECNs in FX, to establish trading relationships with clients.

"We thought that it was largely going to be the same [process as the fixed-income project], in that the FX markets have been electronic for longer than the fixed-income space, so

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