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General TradingV

Voice Direct Trading

A method of executing financial transactions through direct verbal communication between two counterparties, typically via phone or intercom, without an intermediary such as a voice broker. Voice direct trading was the dominant execution method in foreign exchange and fixed-income markets before the adoption of electronic platforms. It is still used for large or complex transactions where negotiation, discretion, and relationship management are important.

Example

The bank's FX desk traded a $200 million EUR/USD block via voice direct with a sovereign wealth fund, negotiating a tighter spread than the electronic platform offered.