As ECNs proliferate, forex execs see tough battles ahead

From automatedtrader.net

A spate of new electronic crossing networks (ECNs) in the foreign exchange market has led senior forex professionals to question whether there is enough customer demand for them all to stay in business. "There are half a dozen or more new players we've seen try to enter this space," Harry Moumdjian, executive director at Morgan Stanley, said in a panel discussion at a Forex Magnates conference. Moumdjian noted that volumes in 2011 had been exceptionally strong. "So now everybody hatches a business plan to get into this game, because volumes are exploding, and in fact in 2012 volumes are down 30 percent across the ... (full story)