The sheer size and liquidity of the global foreign exchange (FX) markets is attracting new players looking to trade FX as an asset class, as well as a growing number of hedge funds that are bringing algorithms from the equity markets to FX at an increasing rate.
As a result, the number of tickets passing through banks’ back offices has escalated to unprecedented levels and prompted discussions, such as a panel session at Sibos next month, on whether an industry-wide solution is needed.