Circuit breakers divide opinion in FX

Chris Concannon, Bats Global Markets

Implementing circuit breakers to cut off trading for a matter of minutes in foreign exchange markets has split opinion among market participants as the industry deliberates how best to avoid a repeat of the extreme Swiss franc move seen on January 15.

Circuit breakers are standard features of many exchanges but scarcely used in over-the-counter currency markets. Some platforms, such as the CME and retail players like FXCM, deployed circuit breakers on the day the Swiss National Bank removed its

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