Independent market maker and broker Currency Management Corporation
transacted more than $20 bn of currency trades in the first year of its
foreign exchange web site (www.forex cmc.co.uk), the company has
claimed.
CMC estimates that about 90 per cent of its new business is over the
internet.
The service offers greater transaction speed and clients know the exact
prices they are dealing at, unlike traditional foreign exchange desks.
The site also allows CMC to cater for smaller trades which conventional
brokers would avoid.
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