BoE’s Hauser urges firms to adapt to FX market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
Buy-side firms need to take action to adapt to high levels of fragmentation in foreign exchange markets, as less sophisticated firms may be getting a bad deal, the Bank of England’s Andrew Hauser said today (September 13).
“Extraordinary technical innovation” has led to a proliferation of liquidity sources, trading venues and execution algorithms, the executive director for markets said. For those firms with the skills to navigate this fast-changing landscape, this can offer “enormous choice
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