Execution Methods
Common methods of executing a spot foreign exchange transaction include the following:
- Direct. Executed between two parties directly and not intermediated by a third party. For example, a transaction executed via direct telephone communication or direct electronic dealing systems such as Reuters Conversational Dealing.
- Electronic broking systems. Executed via automated order matching system for foreign exchange dealers. Examples of such systems are EBS and Reuters Matching 2000/2.
- Electronic trading systems. Executed via a single-bank proprietary platform or a multibank dealing system. These systems are generally geared towards customers. Examples of multibank systems include FXall, Currenex, FXConnect, Globalink and eSpeed.
- Voice broker. Executed via telephone communication with a foreign exchange voice broker.
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