Best Execution, The New Vendors in FX

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Once, the FX market meant either Reuters or EBS. Not anymore.

In the old days, all any major FX participant needed was Reuters. Now there are vendors in every nook of the industry. And new ones are springing up every day. The latest entrant: Currenex, which is billing itself as the first Internet-based FX exchange--a central site where corporates and banks can meet in an open auction environment and consummate trades.

Up until recently, most FX automation had taken the form of conversational

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