ACI Paper On European Single Currency Predicts Further Market Concentration
ASSOCIATIONS
The Association Cambiste Internationale last week released a working paper on a single currency in Europe in response to a request from the European Union authorities to comment on the recent Green Paper on implementing monetary union. The paper predicts that monetary union will result in lower aggregate profitability in the FX market and a big industry shakeout that will mean more concentration in the FX industry.
The paper, presented by ACI president Eugène Prim at a press conference prior to
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