Voice Indirect Trading
a.k.a. Voice broking
Trading currencies through a human voice broker who matches buyers and sellers over the phone.
In plain English
Trading currencies through a human voice broker who matches buyers and sellers over the phone.
In voice indirect trading, a human broker sits in the middle. Banks call the broker with what they want, and the broker finds the other side, often without revealing who is who until the deal is done. The broker earns a commission.
Voice brokers were once the heartbeat of the interbank market. Electronic platforms took over most of their business, but voice broking survives in thin or tricky corners of the market. The electronic version is electronic indirect trading.
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