The CEE generally refers to the group of "Central and Eastern European" countries, formerly called the Eastern Bloc during the Cold War. These include Albania, Bosnia and Herzegovinia, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Montenegro, Poland, Romania, Slovakia, Slovenia, Serbia and, though it was never in the communist Eastern Block as such, Turkey. Recently, eForex interviewed Karol Piovarcsy, head of the newly opened Saxo Bank branch office in Prague, and Vladimir Kisyov, Head of Business Development at Deltastock in Sofia, Bulgaria about the growth and prospects from their perspectives for FX in this region.

Social networking has now come of age in the consumer market, with the likes of Facebook, Twitter, Bebo and LinkedIn all attracting record numbers of members. Heather McLean explores how this maturing technology has now given rise to increasing interest in social networking for retail FX users, with added trading tools, charts, news feeds and forums to maximise the benefits for end users.

The Capital Markets landscape consists of a complete multi-asset, multi-partnered and multi-regional infrastructure in order to be profitable in today's market conditions. Trading execution venues, their participants and technology vendors must now all be at the front of technology advancements. However, the need to be in as many markets and to communicate to as many clients and partners as possible has made connectivity to market access a "mine field" of obstacles. In the second in our series on high frequency FX trading, Joe Hilt, VP of Sales, North America, Hibernia Atlantic, outlines some of the key issues facing FX trading firms who are planning how best to link their trading infrastructures to trading venues and what lessons they can take from latency, networking and trading connectivity developments in other markets.

The concept of 'Direct Market Access' (DMA) is a simple one and is yet another example of an invention that started out in the equities market and is now being adopted in the FX market. Nicholas Pratt examines the evolution of DMA and what it means for FX traders

The recent disasters in the global banking system and the ensuing fallout in the derivatives markets fundamentally changed the way market participants use FX derivatives. The crippling widespread disappearance of liquidity and leverage as well as the over-regulation that many doom sayers predicted has not materialised; instead, market participants are refocusing on the core uses of derivatives that built the industry. Concurrently, there are greatly increased efforts at addressing systematic problems with efficiency and operational risk. In addition, regulators are preparing sweeping reforms to the OTC derivatives markets on both sides of the Atlantic and FX derivatives are in danger of being caught up in these reforms.

With the passing of the Commodity Futures Modernization Act (CFMA) in December 2000, the Commodities and Futures Trade Commission (CFTC) became officially responsible for regulating the retail FX market, thereby legitimizing the existence of the burgeoning retail market. Today, the retail FX market is booming with strong adoption across all major financial centers.

The world's futures exchanges continue to make in-roads into the biggest OTC market in the world and with recent regulatory discussions on the need for greater use of centrally cleared products, currency trading innovation continues to gather pace within the exchanges.

The demand for historical FX pricing data shows little sign of abating, with advances in technology and algorithmic trading in recent years driving matters. Roger Aitken canvasses industry opinion on how this trend is affecting the sourcing and integration of such data for FX applications.

Mark Biezup, FX product Manager - SunGard Sierra, outlines why recent and projected regulatory changes along with a focus on risk management will have significant implications for FX brokers.

Despite new research showing a slight shift towards multi-dealer platforms, the demand for single bank portals, and relationship-based pricing, is still high, especially in times of crisis. Frances Maguire examines how the continued investment by banks in their platforms is ensuring they continue to grow.