The Future of FX: Too Many Cooks?
Over half of all trades in the foreign exchange market are now conducted electronically, with new players and venues entering the market.
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It’s not often that you see the figures thrown around the financial markets written out in full. Millions, billions, even trillions of dollars become almost abstract concepts without the actual zeros on paper. So consider the trading volumes of the foreign exchange (FX) market, a figure that now exceeds $5 trillion on a daily basis. That’s $5,000,000,000,000 in a market that has been historically unregulated and without a central counterparty…traded every day.
To date, the fines meted out to
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