Banks and prop shops expect more trading tie-ups
NDFs and FX swaps will increasingly trade on screen, but latter product gives banks advantage over non-banks
Bank and non-bank dealers expect electronic trading to continue spreading – bringing the two groups of firms into more frequent competition, but also creating chances for them to work together.
“There is convergence, a definite overlap in the business we’re doing,” said Alex Shterenberg, global head of emerging markets and G10 electronic foreign exchange trading at Barclays in London. “But, despite that convergence, I think the business models are different enough that it creates opportunities
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