Schism narrows between OTC and exchange-traded FX
As exchanges push into FX, a bridge is being built between the two worlds
Regulatory pressures pushing customers to clear more foreign exchange products are increasingly narrowing the schism between over-the-counter and exchange-traded FX, with instruments on either side of the spectrum increasingly acquiring characteristics of the other – prompting several exchange operators to enter the $5.3 trillion-a-day market last year.
Bats Global Markets, the largest operator of equity exchanges in the US, kicked off the process early last year with the acquisition of FX
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