The foreign exchange market is a truly global phenomenon. According to the Bank for International Settlements, the most recent figures of average daily turnover in global FX is estimated at $3.98 trillion, further cementing it as the largest market in the world in terms of total cash value traded.

When UBS Global Head of FICC e-Commerce Simon Wilson-Taylor-one of the first innovators in electronic trading-discusses the latest news in FX, he draws on 35 years of both buy-side and sell-side experience in financial services. In September 2009 he joined UBS to lead the firm's most recent initiative to deliver FX and fixed income services to clients through all electronic channels. Wilson-Taylor brings to this initiative the one major lesson he has learned during his fifteen years in e-commerce: Technology may change, but commitment to the client doesn't.

SEB is the leading foreign exchange bank in the Nordic/ Baltic regions and invests significantly and continuously in specialist expertise and new systems. David Steiner, head of global e-FX, at SEB talks to FX&MM about how SEB is taking a holistic approach for faster and better FX risk management.

Volatility has been a talking point in the last month, encouraging more interest in FX Options. Online investment and trading specialist Saxo Bank has seen its FX Options volume rise by 60% making FX Options an integral part of the traders overall FX portfolio. Michael Schmeja, Global Head of Derivatives Sales at Saxo Bank talks about why and how Saxo Bank is supporting its FX Options traders.

Electronic FX trading first emerged in the late 1990s but internet functionality wasn't yet ready to cope with it on a large scale. The real growth has come since 2002-2003 and the banks that were able to offer services then really had a first mover advantage.