Swaps platform aims to cut out the banks – but not entirely

Banks would be forgiven for greeting news of another entrant in peer-to-peer foreign exchange trading with a weary eye-roll.

The newcomers arrive with promises of big savings for participants by matching up trade flow and chopping out the middleman, namely banks. But sooner or later they fade away, having failed to achieve a critical mass of clients.

FX HedgePool is the latest peer-to-peer hopeful seeking to challenge the status quo. Unlike many of its predecessors, though, it isn’t seeking to