Derivatives market diversifies
FRANKFURT - Forex derivatives trading is becoming less concentrated among top-tier banks, as new participants enter the FX market attracted by liquidity and arbitrage opportunities, according to the European Central Bank (ECB).
"An increase in turnover, better liquidity in FX derivatives for some non-euro currencies, increasing opportunities for arbitrage, and a drive towards counterparty risk diversification may have attracted more players," said the central bank.
In its euro money-market study
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