It’s hard to escape the headlines about FX trading lately. Words such as rigging, currency manipulation, chat rooms and billion dollar fines are grabbing attention and alarming many buy-side customers.
It’s an environment that could give pause to investors, so it’s interesting to note that, in spite of these transgressions, the $5.3 trillion foreign exchange market is growing, driven by new market participants, beyond dealers.
It’s hard to escape the headlines about FX trading lately. Words such as rigging, currency manipulation, chat rooms and billion dollar fines are grabbing attention and alarming many buy-side customers.
It’s an environment that could give pause to investors, so it’s interesting to note that, in spite of these transgressions, the $5.3 trillion foreign exchange market is growing, driven by new market participants, beyond dealers.
According to the latest Bank for International Settlements Triennial Survey of Central Banks, small banks accounted for 24% of the turnover, followed by institutional investors such as pension funds and insurance companies at 11%, and hedge funds and proprietary trading firms another 11%.
As such, following are seven trends in currency trading that buy-side firms need to be aware of:
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