A foreign exchange (FX) aggregator is a sophisticated system that pools liquidity from multiple providers, giving traders a consolidated view of the market. Instead of checking separate platforms, traders can compare real-time prices from major banks and electronic communication networks (ECNs) like Currenex, FXall, and Hotspot FX through a single API or terminal. These systems execute trades in two main ways: they either "sweep" an order by splitting it across the best available counterparties, or they route the entire order to a single provider chosen by an embedded algorithm. The technology is highly complex, requiring microsecond-level latency, which is why some banks build their own aggregators while others purchase solutions from vendors. The market features numerous platforms, including smartTrade LiquidityFX, Thomson Reuters Dealing Aggregator, and LMAX Exchange, each offering unique routing and pricing capabilities.