Interesting Forex Facts Part 3

11. Before the advent of the Internet, in the mid 1980s, there was another form of electronic Forex trading, which was developed by Reuters and was called (yes, you guessed it) “Reuters Dealing”.  By today’s standards that system would be terribly outdated, as it was essentially a closed-network chat system, but back then it was considered to be pretty sophisticated.

12. The GBP/USD currency pair is called “cable” because before the fibre-optic technology and satellite communication the London and New York stock exchanges were connected through a giant steel cable under the Atlantic Ocean. 

13. More than $5.3 trillion are traded on the foreign exchange market every day.

14. The Forex trading daily volume is 53 times larger than the New York stock exchange.

15. The USD is the most popular currency and it is involved in 87% of all trades.