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Innovation is bringing transparency and diversity to the FX market.
As upheaval and scandal have increased scrutiny of the FX market, with regulators and market participants calling for greater fairness and transparency, innovative technological solutions have been leading the way in helping restore confidence in a new market landscape.
Recent innovations, including the emergence of liquidity aggregation and algorithmic trading techniques, have boosted interconnectivity between a greater number of market players, enabling a more widespread sharing of risk among market participants.
Electronic trading has made the FX market more dynamic, fragmented and competitive, with a broader range of end users, especially participants other than banks.
Global Finance used the OECD’s Oslo Manual of Innovation to help select banks, brokers, technology vendors and infrastructure providers for inclusion in the list.
CATEGORIES OF INNOVATION* |
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PRODUCT INNOVATIONA good or service that is new or signifi- cantly improved. This includes upgrades in technical specifications, components and materials, software, user friendliness or other functional characteristics. |
PROCESS INNOVATIONA significantly improved production or delivery method. This includes changes in techniques, equipment and/or software. |
MARKETING INNOVATIONA marketing method involving significant changes in product design or packaging, product placement, product promotion or pricing. |
ORGANIZATIONAL INNOVATIONA new method in business practices, workplace structure or external relations. |
*From the OECD Oslo Manual Of Innovation |
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