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Too Many Forex ECNs?

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Several newcomers, added to larger incumbents, all vying for falling volumes.

Forex ECN logoAs we've written recently, a number of Forex spot ECN aggregators have popped up in the past year, including tpSPOTDEAL (backed by Integral and Tullett Prebon), FastMatch (FXCM and Credit Suisse), traFXpure (Tradition), and MoltenFX. And this comes at a time when all the major established Forex ECNs except for perhaps FXall -- Thomson Reuters, ICAP-EBS and Hotspot FX -- are seeing volumes well below last year's levels.

For more details see LeapRate's Forex Industry News at leaprate.com.

For more on the global FX market see the LeapRate-Dow Jones Forex Industry Report.