Electronic Indirect Trading
a.k.a. Multi-dealer platform
Trading currencies electronically through a venue that pools prices from many dealers, instead of with…
In plain English
Trading currencies electronically through a venue that pools prices from many dealers, instead of with one bank directly.
In electronic indirect trading, orders go through a broker or multi-dealer platform, such as EBS or an ECN, where many banks and traders post prices.
It replaced the old voice brokers who once shouted prices down phone lines. Competition among many providers tends to tighten spreads.
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