| Headline: In times of stress, voice is still best Source: Euromoney Date: October 2001 In periods of uncertainty, there’s a tendency to go back to what you know. That’s what has happened in the currency markets in the wake of the terrorist strikes in the US.
Although price takers certainly appreciate the transparency that online trading has already brought about, after the attacks they were more acutely aware of the other side of the coin. Online platforms aren’t good at market detail. There’s little an internet portal can tell you about market depth, nor can a screen hooked up to rate engines advise on the timing of a deal. Compared with other products – such as equities and interest rate swaps – the impact of September 11 on the foreign exchange markets was slight. | |||||||||||||||||||||||||||||||||||||||||
