The Middle East – Scope for Growth in Electronic FX
e-FOREX’s Richard Willshire sets out to discover what factors are shaping the foreign exchange market across the Middle East and what further growth in e-FX we can expect throughout the region. FlexTrade’s Vishal Kapadia, Vice President, Business Development for the Middle East and Asia, comments.
From the article:
Although banks, brokers and buy-side clients in some Gulf States are well advanced and sophisticated in the use of e-trading platforms, elsewhere in the region their use is still in its infancy. Dubai and Abu Dhabi are home to numerous banks and brokers and are positioned at the crossover between Asian and European markets from where single bank and multi-bank platforms stream prices and draw upon liquidity. Yet there is less penetration in other states.