quote Lmax is doing this and they have the majority of the main FX banks in their system. As does IB - though minimal is 20K there, however, does this really matter if its 1k or 20k, both is microscopic. Ticket count is compressed by appliions like Traiana Harmony for post-trade functions which reduces cost, but no risk is being internalized. Average ticket size is constantly going down even in the institutional sector since decades and ticket count is moving up. Its only a software issue, 15 years ago it was distinct, but its not really.