The volume of foreign exchange trading executed electronically rose by 10% last year due to increased activity of hedge funds, fund managers and retail investors.

Total volume of electronic foreign trades rose from $15.7 trillion (€12.6 trillion) in 2004 to almost $17 trillion last year, according to consultancy Greenwich Associates. Its report said respondents that traded electronically on average executed 53% of volume through automated systems. Electronic traders expected this figure to rise to 57% within a year.